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Bitcoin trades at $80,792 (+0.58%), holding above the key $80,000 level, even as oil surged past $115 amid Strait of Hormuz tensions.
Aave has moved court to unlock $73 million (30,766 ETH) tied to the Kelp DAO exploit.
The US Senate stablecoin bill faces pushback from banking groups, adding regulatory uncertainty.
World Liberty Financial sues Justin Sun, adding legal noise even as the WLFI token gained 5% on May 4.
Crypto prices today show mixed trends. Bitcoin is showing its resilience while most top coins go on a downtrend. However, the broader crypto market faces pressure as the world watches a military standoff near the Strait of Hormuz push oil prices past $115 a barrel and trigger a sell-off in US Treasury bonds. From stablecoin legislation battles in the US Senate to a major DeFi exploit recovery effort, many factors are impacting crypto prices today.
Bitcoin price is up 0.58% over the last 24 hours at $80,792.03. Its market cap is over $1.6 trillion with $48 billion in trading volume. Bitcoin's ability to hold its ground reinforces its status as the ‘digital gold.’
Ashish Singhal, Co-founder at CoinSwitch, noted, “Traders are closely tracking a key resistance around $81,500, while a gap near $84,000 on CME futures charts is seen as a potential upside level. Interestingly, since the onset of the conflict, Bitcoin has gained over 20%, while gold has declined by nearly 13-14%.”
Singhal explained, “This divergence reflects the continued impact of rate expectations on traditional non-yielding assets, while also highlighting Bitcoin’s evolving role in global portfolios. In the near term, we expect markets to remain sensitive to geopolitical developments, with the potential for sharp moves in either direction.”
Here is how the world’s top cryptocurrencies performed over the last 24 hours:
Biggest Losers: BNB, Dogecoin, Solana
Biggest Gainers: Bitcoin, TRON, Hyperliquid
Riya Sehgal, Research Analyst, Delta Exchange, explained, “Smart contract activity has risen sharply, suggesting network usage is growing faster than price. ETH is holding above $2,300 while testing $2,400 resistance signals, building breakout pressure. A decisive move above $2,400 could open upside toward $2,600-$2,700. Near-term volatility may stay elevated, but the broader setup points to improving sentiment, stronger participation, and a shift toward selective risk-on positioning.”
Also Read: Crypto Prices Today: Bitcoin Above $80,000, ETH Up Nearly 4%, Trump’s ‘Project Freedom’ Sparks Rally
Here are the top headlines every trader and investor needs to be aware of.
The Strait of Hormuz standoff, where US forces reportedly destroyed Iranian boats and intercepted drones, pushed oil above $115 a barrel. It also triggered a sell-off in US Treasuries. Risk-off sentiment like this typically drags crypto down too. However, Bitcoin's slight gains today suggest some investors are treating it as a hedge.
Brent crude pulled back to $113.76 for at press time, as reports emerged that the US Navy may ease the blockade. Further easing of tensions could reduce market fear and give crypto prices a boost later in the week.
Major US bank groups, including the American Bankers Association, pushed back on the Senate's latest stablecoin bill. They warned that a rewards provision could pull deposits away from traditional banks. Delays add short-term uncertainty to the US crypto industry, though long-term regulatory clarity is broadly positive for the market.
Hong Kong's monetary authority said it will consider issuing new stablecoin licenses after the first batch launches, though the number will be tightly controlled based on market capacity. It is a positive signal for crypto adoption in Asia, showing that regulators are actively building a structured framework.
Aave filed an emergency court motion to unfreeze $73 million in Ethereum. 30,766 ETH have been recovered after the Kelp DAO exploit in April. The funds were frozen after plaintiffs with North Korea-related terrorism judgments claimed the Lazarus Group carried out the hack. Aave argues the money belongs to the victims. This legal fight could weigh on Ethereum-based protocols in the near term.
LayerZero's CEO publicly admitted the protocol failed to flag a dangerous security configuration that was exploited in the Kelp DAO attack. He also said that internal changes were made without notifying clients. These admissions hurt DeFi trust. Although the broader DeFi United recovery effort which has raised over 137,700 ETH worth around $327 million, shows the ecosystem is working to repair the damage.
The Trump-linked crypto platform World Liberty Financial has sued TRON founder Justin Sun for defamation in Florida. The company accused Sun of making false public statements and breaching token sale terms.
Sun called the lawsuit a ‘meritless PR stunt.’ The legal battle, combined with earlier WLFI governance controversies, adds reputational noise to the space. Despite it, the WLFI token rose 5% on May 4th.
Also Read: Top Crypto Gainers: Fastest Growing Cryptocurrencies
Crypto prices today remain cautious but far from a breakdown. For now, Bitcoin price holding above $80K is the market's clearest reassuring signal. Avinash Shekhar, Co-Founder and CEO, Pi42, added, “For investors, this phase reflects a market at a pivotal point, where strong momentum may be tested by profit-taking and shifting capital flows. While the broader trend remains constructive, confirmation above $80,000 will be key in determining whether Bitcoin can extend its rally in the near term.”
If US-Iran tensions ease further and oil retreats, risk appetite could return and push Bitcoin and altcoins higher. The Fed's next move on interest rates is also a key watch for the weeks ahead. Keep an eye on XRP price and ETH for early signs of the next directional move.
1. Did Aave appeal to unlock ETH?
Yes, Aave has filed an emergency court motion to unlock around $73 million worth of Ethereum that was frozen after a major exploit. The funds are linked to the Kelp DAO hack, and Aave claims they belong to affected users. The case is still ongoing, and its outcome could impact trust in DeFi platforms and how such incidents are handled legally in the future.
2. What is the latest crypto news?
The latest crypto news shows a mix of market resilience and uncertainty. Bitcoin is holding strong above $80,000, while Ethereum is facing resistance near $2,400. At the same time, the US Senate stablecoin bill has stalled, Aave is fighting a legal case over frozen ETH, and World Liberty Financial has filed a lawsuit against Justin Sun, adding more tension to the market.
3. How did Bitcoin price perform today?
Bitcoin showed resilience today, trading at around $80,792 with a slight gain of about 0.58% in the last 24 hours. Despite global uncertainty and pressure on financial markets, Bitcoin managed to stay above the key $80,000 level. This stability has reinforced its position as a potential hedge asset, especially during times of geopolitical stress and economic uncertainty.
4. When will the US Senate bill pass?
There is no confirmed timeline for the US Senate stablecoin bill to pass. The bill is currently facing resistance from major banking groups, which has delayed progress. While this creates short-term uncertainty, discussions are still ongoing. Most experts believe that some form of regulation will eventually be approved, but it may take time as policymakers try to balance innovation with financial stability.
5. Why did WLFI sue Justin Sun?
World Liberty Financial has sued Justin Sun over alleged defamation and claims that he made false public statements about the company. WLFI also accused him of breaching token-related agreements. Justin Sun has denied the allegations and called the lawsuit a publicity stunt. The case has added more attention to governance and transparency issues in the crypto space.
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