NEW YORK, May 13, 2026, 17:28 EDT
Bitcoin fell under $80,000 late Wednesday in New York, changing hands at $79,371. A higher U.S. inflation print and more outflows from U.S. spot bitcoin funds pressured the token toward the bottom of its latest range. It dropped 1.6% for the session after reaching as high as $81,276, with lows near $78,762.
This shift holds weight: $80,000 was the short-term battleground for bitcoin after its rebound from February’s dip. On May 12, U.S. spot bitcoin ETFs—which track the cryptocurrency on public markets without requiring direct ownership—saw $233.2 million in net outflows, per Farside Investors. That wiped out the previous day’s $27.2 million inflow.
The macro backdrop was little comfort. U.S. producer prices climbed 1.4% in April, marking the biggest monthly jump since March 2022, Reuters reported. The annual move: up 6.0%. Ben Ayers, senior economist at Nationwide, warned this could mean “further increases for consumer prices in May.” Over at Santander U.S. Capital Markets, Stephen Stanley pointed to an “energy price shock” rippling through the economy. Reuters
Assets sensitive to risk-taking and easy money usually struggle when rates stay elevated. UBS Global Wealth Management now sees the Fed holding off on rate cuts until December 2026 and March 2027—pushed back from its earlier September and December projections. “Conditions for a September move have not yet been met,” analysts under Andrew Dubinsky said. A basis point equals one one-hundredth of a percentage point. Reuters
Bitcoin wasn’t the only one under pressure. Ether lost 1.3% to $2,255.55, Solana gave up 4.1% to $90.89, and Coinbase Global shares slipped 2.9% to $201.80. The declines hit both major digital coins and crypto-related stocks.
Naeem Aslam of Zaye Capital Markets flagged liquidity moves, inflation figures, swings in Treasury yields, the dollar’s path, geopolitical risks, and regulatory questions as key factors for crypto right now. That’s behind the choppy action: bitcoin is still attracting dip buyers at key support, but with rates and oil-fueled inflation hanging over the market, there’s less appetite for chasing rallies.
Glassnode described the recent price action as a “Rally Without Conviction.” Analysts Chris Beamish, CryptoVizArt and Antoine Colpaert noted capital inflows have picked up to $2.8 billion a month—still far from the $10 billion-plus pace of previous bull runs. They pointed to $76,900 as immediate support, with $86,900 marked as the closest resistance. Glassnode
Caution, not outright pessimism, defined the tone in prediction markets. Kalshi pegged the chance of bitcoin hitting $80,000 or higher by Friday at 5 p.m. EDT at 45%. On Polymarket, the probability for bitcoin falling in the $78,000 to $80,000 window on May 14 came in at 53%, with just 31% assigned to a move up to $80,000-$82,000.
Bulls face a clear threat here—persistent ETF outflows alongside rising Treasury yields could sap demand near the $80,000 level fast. An unexpected jump in inflation or another spike in energy prices might send traders scrambling to cash and short-dated assets, exposing crypto to potential forced selling.
The flip side? That’s pretty clear. Should inflation data cool, ETF inflows resume, or geopolitical tensions let up, bitcoin could rocket past $80,000 in no time. Volatility’s still tight; short-term players remain locked in on slim trading bands.
Bitcoin price today isn’t so much a decisive move as it is a trial run. The token is hovering near a level buyers protected through most of last week. Now, focus turns back to inflows, rates, and if $80,000 can flip from resistance into a firm base again.
