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Bitcoin dips below $80K as geopolitical tensions and ETF outflows weigh on crypto market

Market News
08 May 2026
Coingape
Bearish
pluang ai news

Bitcoin price fell below the key $80,000 support level amid increased geopolitical tensions and significant ETF outflows, particularly from major funds like Fidelity and BlackRock. Dogecoin and Cardano also saw notable declines, reflecting broader risk aversion among investors. The ongoing US-Iran military tensions and cautious market sentiment have pressured cryptocurrencies, with Bitcoin potentially heading towards $76,000-$78,500 support if the downtrend continues. Investors remain watchful of geopolitical developments and institutional demand shifts that could further impact the crypto market.

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