Bitcoin Holds Near Record Highs Despite U.S.-Iran Escalation, Up Nearly 3% on Week

U.S. forces fired on Iranian targets following attacks on American naval destroyers transiting the Strait of Hormuz on Thursday. 3 percent on the week, CoinDesk reported.

President Donald Trump described the strike as a "love tap" in an ABC News interview. He said the ceasefire with Iran remains "in effect" and threatened to hit harder if Tehran does not sign a deal soon. 2 percent to around $101 a barrel on the escalation, though it is still down more than 6 percent on the week as of May 8, 2026.

2 percent from a record close, even as the region remained on track for a fifth straight week of gains. 2 percent higher in early trading on May 8, 2026, suggesting the pullback across risk assets represented profit-taking rather than a structural reversal. 1063.

3474. Dogecoin is the only major coin in the red on the seven-day tape as of May 8, 2026. Bitcoin rose to $82,800 on Wednesday before retreating to $81,300, according to FxPro chief market analyst Alex Kuptsikevich.

The 200-day moving average for Bitcoin stands at $83,200. The daily RSI for Bitcoin hit overbought territory above 70. Kuptsikevich noted that the previous three times this occurred, in August, October and January, were followed by sharp selloffs.

"It is logical that market participants are taking a breather to assess the situation and gather strength," he said. Bitcoin futures funding rates have stayed negative for 67 consecutive days as of May 8, 2026, the longest stretch in 10 years, according to K33 Research. Negative funding rates mean shorts are paying longs to keep positions open.

The streak creates conditions for a potential short squeeze if Bitcoin breaks above the $83,200 technical level. Bitcoin reached a high of $81,500 this week. -Iran tensions while remaining higher on the week alongside mostly resilient global risk assets.