Bitcoin Price Hits $80K as Donald Trump’s Project Freedom Begins
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 in the crypto market. Bitcoin was trading near $79,830 at 12:30 EAT, up about 1.74% over the past 24 hours. The asset reached an intraday high of about $80,596 after moving above the $80,000 psychological level, before easing slightly. Its 24-hour low stood near $78,073, with market capitalization around $1.6 trillion and daily trading volume near $34 billion. Trump said the process would begin Monday morning, Middle East time, and described the operation as a humanitarian effort. He also said U.S. representatives were holding positive discussions with Iran, while warning that interference with the ship movement would be dealt with forcefully. Bitcoin Reclaims $79,000 as Traders Watch $80K Bitcoins move above $79,000 placed the asset back near a key short-term breakout zone. Analysts have been watching the $80,000 level as a major resistance area after repeated attempts to clear it. The current market structure shows Bitcoin recovering from a sharp selloff earlier in the year. Price action formed a base around the $65,000 to $70,000 region before moving into a pattern of higher lows and higher highs through April