finance
Bitcoin Trades Near $81,000 as Global Stock Markets Reach Record Highs
Major cryptocurrencies paused their recent rally Thursday with bitcoin down 0.7% over 24 hours while equities climbed to fresh highs. Wall Street closed at all-time highs the prior day with strong corporate earnings while gold reached $4,700 an ounce. Institutional signals from Morgan Stanley and continued ether accumulation by large holders provided a supportive backdrop.
May 7, 12:33 AM·1m read1 source
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-Iran ceasefire. 3% on May 7, 2026. 9% to a record, Japan's Nikkei 225 hit an intraday high and South Korea passed Canada as the world's seventh-largest equity market by value.
3% within those equity gains. Wall Street gauges closed at all-time highs on May 6, 2026, with approximately 80% of S&P 500 companies beating earnings estimates, Bloomberg reported. -Iran deal would help resume oil shipments through the Strait of Hormuz.
Gold reached $4,700 an ounce on May 7, 2026, extending its surge for a third straight day on expectations of Federal Reserve rate cuts and easing inflation. Bitcoin's 200-day moving average stood near $83,300 as of May 7, 2026, according to Alex Kuptsikevich. "A firm consolidation above this level would be a further sign of bullish dominance," he wrote.
Kuptsikevich noted the first such bullish sign appeared one month earlier when bitcoin held above its 50-day moving average. 9 billion over the past 60 days as of May 7, 2026, according to analyst Darkfost. That growth reversed a $2 billion monthly outflow trend that ran through early 2026.
Such stablecoin issuance is viewed as a source of new capital entering the crypto market. U.S. banks may eventually be able to hold bitcoin on their balance sheets.
The bank is already running a bitcoin-based ETP as of May 2026. Morgan Stanley plans to launch spot crypto trading on its wealth platform later in 2026. Western Union launched its own stablecoin, USDPT, on Solana to bypass traditional interbank settlement delays.
