Bitcoin briefly surged past $80K before stabilizing near $78K, key resistance near $80,500, and support around $76,600
Institutional activity remains strong as Capital B raised $1.3M and Strategy paused accumulation at 818K BTC
Security concerns rise sharply as April crypto hacks hit $630M, led by KelpDAO and Drift Protocol, while Coinbase enhances Solana liquidity with a DFlow integration.
The crypto market saw heightened activity as Bitcoin briefly crossed the $80,000 mark, driven by geopolitical developments and institutional trading. The market today was shaped by price changes and major updates, including new capital investments and a pause in the strategy’s BTC accumulation.
Bitcoin price briefly moved above $80,000 on May 4, 2026, as traders reacted to renewed geopolitical developments around the Strait of Hormuz and continued institutional activity.
At press time, BTC trades at $78,783.05, up 0.15% over the past 24 hours. The asset reached an intraday high of about $80,596 after moving above the $80,000 psychological level.
The latest move came as President Donald Trump announced “Project Freedom,” a US-led effort to help guide neutral commercial ships out of the restricted Strait of Hormuz.
The $80,400 and $80,500 zone remains the immediate resistance. A clean break and hold above that range could open the path toward $86,500. On the downside, traders are watching $76,600 as a short-term support level.
The Bitcoin treasury firm, Capital B, raised €1.1 million ($1.28 million) through a warrant issuance subscribed by Blockstream CEO Adam Back, extending the cryptographer’s backing.
Back subscribed to 10 million subscription warrants at $0.13 each, according to a Monday announcement from Capital B. Each warrant gives Back the right to buy one new share of future company stock at $0.98.
The deal would increase Back’s exposure to Capital B, where he is already one of the company’s largest strategic investors. Back now holds over 39.5 million shares or 9.97% of Capital B’s shares.
The firm’s stock price rose by over 6.5% on Monday, but is still down over 16% year-to-date.
Also Read: Bitcoin Surges Past $80,000 as ETF Flows and Asian Market Strength Fuel Rally
According to market reports, Strategy paused its Bitcoin purchases last week and raised approximately $82 million through a stock issuance. Its total Bitcoin holdings remain at 818,334 BTC.
Analysis suggests that, despite the short-term pause in accumulation, Strategy continues to raise capital from the capital markets to fund its long-term Bitcoin reserve strategy.
This round of financing was primarily driven by equity sales rather than debt expansion. The market is widely watching Strategy’s first pause in Bitcoin accumulation after multiple consecutive rounds of purchases. However, its overarching “Bitcoin balance-sheet” strategy remains unchanged.
Crypto hack losses reached $630 million in April 2026, the highest monthly total since February 2025, when the Bybit exchange lost $1.47 billion.
Security firms CertiK, PeckShield, and DeFiLlama all confirmed the April figure. Individual estimates ranged from $630 million to $651 million.
KelpDAO and Drift Protocol were the two largest victims in April. KelpDAO, a decentralised finance (DeFi) protocol built on Ethereum, lost approximately $293 million.
Drift Protocol, a DeFi platform on the Solana blockchain, lost approximately $280 million after attackers compromised an administrator key. Together, the two incidents account for over 90% of April's total losses.
Also Read: North Korea Tied to Record $290M Kelp DAO Crypto Hack
Coinbase on Monday said it has integrated trading protocol DFlow, allowing traders to exchange value across spot and prediction markets on Solana.
Coinbase adding DFlow as its primary router means eight times fewer trade failures. The move also increases liquidity on tokens that were previously untradeable and improves the prices users receive.
The DFlow aggregator, which services over a million active traders per month, was tapped by prediction market giant Kalshi in December.
Coinbase said that before DFlow, roughly one in 30 trades on Coinbase's Solana product could not be routed due to insufficient liquidity coverage; now it's one in 250.
1. Why did Bitcoin cross $80,000 recently?
Bitcoin surged due to geopolitical developments like “Project Freedom” and continued institutional interest, though it faced resistance near $80,500.
2. Why did Strategy pause Bitcoin buying?
Strategy paused accumulation to raise capital through equity, but its long-term Bitcoin reserve strategy remains unchanged.
3. How significant are the recent crypto hacks?
April saw $630M in losses, the highest since early 2025, raising concerns about DeFi security vulnerabilities.
4. What is Capital B’s recent funding about?
Capital B raised $1.3M from Adam Back, increasing institutional exposure and supporting its Bitcoin treasury strategy.
5. How does Coinbase’s DFlow integration help traders?
It improves liquidity, reduces failed trades from 1 in 30 to 1 in 250, and enhances pricing efficiency on Solana markets.