Bitcoin Pulls Back Below $81K After Recent Rally
Bitcoin slipped slightly on Thursday after reaching its highest levels in three months, with the recent rally losing momentum as major corporate holder Strategy Inc. signaled it may reduce part of its holdings.
Despite the pullback, overall sentiment across crypto and financial markets remained positive as investors continued reacting to signs of easing tensions between the United States and Iran.
Bitcoin declined 0.7% to $80,951 during early trading hours after gaining nearly 12% throughout April. The cryptocurrency benefited from bargain buying and improving risk appetite tied to hopes for a de-escalation in the Iran conflict.
Iran Negotiations Boost Market Sentiment
Recent headlines surrounding U.S.-Iran negotiations helped fuel Bitcoin’s rally in early May.
Both Washington and Tehran indicated that talks were progressing positively, while several reports suggested the two sides were moving closer to a potential agreement.
The possibility of reduced geopolitical tensions sparked strong gains across risk-sensitive assets, including cryptocurrencies and equities.
Strategy Signals Potential Bitcoin Sales
Bitcoin’s momentum slowed by Wednesday after Strategy Inc. revealed it was considering selling part of its Bitcoin holdings.
The company stated that any potential sales would likely be used to fund dividend payments. Strategy has financed its large-scale Bitcoin purchases through a combination of debt issuance and equity offerings, increasing its future financial obligations.
Investor demand for the company’s recent STRETCH preferred share offering was reportedly strong, but the move also added further dividend payment responsibilities.
Chairman Michael Saylor did not disclose the potential size of any Bitcoin sale but reaffirmed the company’s intention to continue buying more Bitcoin over time.
White House Bitcoin Reserve Update Expected Soon
According to a report from CoinDesk, the White House is expected to announce updates regarding a proposed national Bitcoin reserve within the next few weeks.
Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, reportedly said federal agencies have been working behind the scenes for months to inventory and secure Bitcoin held by the U.S. government.
In 2025, President Donald Trump signed an executive order aimed at establishing a national Bitcoin reserve using cryptocurrency seized by federal authorities.
Altcoins Trade Mixed as Crypto Rally Slows
The broader cryptocurrency market also showed signs of cooling alongside Bitcoin.
Ethereum fell 1.6% to $2,333, while XRP declined 0.8%.
Meanwhile, BNB, Solana, and Cardano posted gains ranging between 1% and 2%.
Among meme cryptocurrencies, Dogecoin dropped 3.7%, while the Official Trump token fell 1.6%.
