{"id":72190,"date":"2026-05-07T18:57:39","date_gmt":"2026-05-07T18:57:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-80k-as-iran-rejects-trump-deal-and-traders-dump-91m-in-longs\/"},"modified":"2026-05-07T18:57:39","modified_gmt":"2026-05-07T18:57:39","slug":"bitcoin-drops-below-80k-as-iran-rejects-trump-deal-and-traders-dump-91m-in-longs","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-drops-below-80k-as-iran-rejects-trump-deal-and-traders-dump-91m-in-longs\/","title":{"rendered":"Bitcoin Drops Below $80K as Iran Rejects Trump Deal and Traders Dump $91M in Longs"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin fell below $80,000 on May 7, erasing weekly gains after hitting a high of $82,833.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Volatility triggered $270 million in liquidations and pulled the crypto market cap to $2.74 trillion.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Concerns mount that President Trump may pivot to a hot war as Tehran rejects the latest U.S. proposal.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>The Iran Peace Deal Factor<\/h2>\n<p>On May 7, <span>bitcoin<\/span> reversed course, dipping below $80,000 to effectively erase gains made since Monday. As shown by the daily chart, the top <span>cryptocurrency<\/span>\u2014which reached a multi-month high of $82,833 some 24 hours earlier\u2014had been under pressure from bears since Wednesday afternoon.<\/p>\n<p>After losing $1,000 during a slow descent from midday to midnight, <span>bitcoin<\/span> found temporary support at $80,700. While a pre-dawn rally lifted the price to $81,600, the momentum proved unsustainable. The subsequent sell-off was more aggressive, forcing the asset down to a $79,500 intraday low. As of 1 p.m. EDT, <span>bitcoin<\/span> has reclaimed some ground, currently hovering just below the $80,000 mark.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"bitcoin market data\"><\/iframe> <\/p>\n<p> <span>Bitcoin<\/span>\u2019s nearly 2% drop dragged its market capitalization below the $1.6 trillion mark, a marked decline from the approximately $1.66 trillion intraday peak reached on Wednesday. The drop helped pull the <span>crypto<\/span> economy\u2019s <span>market cap<\/span> to $2.74 trillion, down from just over $2.8 trillion.<\/p>\n<p>The <span>cryptocurrency<\/span> market\u2019s retreat, which mirrored Wall Street\u2019s, coincided with reports that Iran had rejected the Trump administration\u2019s proposal to end the war. According to a <a href=\"https:\/\/x.com\/DeItaone\/status\/2052410146375061702\" target=\"_blank\" rel=\"noopener noreferrer\">post<\/a> on X by Walter Bloomberg, a senior Iranian official, Mohsen Rezaei, said Tehran rejected the proposal\u2014which calls on Iran to reopen the Strait of Hormuz\u2014because it does not include reparations for war damage.<\/p>\n<p>Iran\u2019s rejection of the U.S. proposal neutralized the optimism <a href=\"https:\/\/news.bitcoin.com\/market-whiplash-oil-sinks-to-88-then-spikes-as-iran-claims-control-of-hormuz\/\">sparked<\/a> by earlier Axios reports that a deal was imminent. Concerns are mounting that a prolonged diplomatic stalemate will embolden Washington hawks, potentially sidelining proponents of diplomacy and nudging President Trump toward a direct military confrontation.<\/p>\n<p>Despite the plunge, <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> was at the time of writing <a href=\"https:\/\/news.bitcoin.com\/bitcoins-bull-case-hinges-on-macro-conditions-wintermute-says\/\">still up<\/a> nearly 5% since the beginning of the month and more than 15% over a 30-day period. Meanwhile, <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a>\u2019s <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatility<\/a> over the 24-hour period saw $91 million in overleveraged long positions wiped out, compared with $12 million in shorts. Overall, the <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> economy saw nearly $270 million in long bets liquidated versus $90 million in shorts.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/bitcoin-drops-below-80k-as-iran-rejects-trump-deal-and-traders-dump-91m-in-longs\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Bitcoin fell below $80,000 on May 7, erasing weekly gains after hitting a high of $82,833. Volatility triggered $270 million in liquidations and pulled the crypto market cap to $2.74 trillion. Concerns mount that President Trump may pivot to a hot war as Tehran rejects the [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":72191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72190"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72190"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72191"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}