Bitcoin briefly tests $82,000

Bitcoin briefly tops $82,200; altcoins rally with SUI and XRP leading.

On May 12 bitcoin briefly traded above $82,200, the highest level since the start of the month amid institutional inflows.

At the time of writing, bitcoin trades at $80,859 (+0.1% over 24 hours). 

Analysts at Zeus Research explained the rise by strong demand for spot bitcoin-ETF and improving macroeconomic conditions. 

According to SoSoValue, net inflows into crypto funds totalled $622.75 million last week. Positive momentum has persisted for six straight weeks, with more than $3.4 billion invested over the period.

Progress on the CLARITY Act has offered an additional tailwind. Hearings in the relevant US Senate committee are scheduled for May 14. 

Bitrue Research Institute noted that easing political tensions in the Middle East also helped dampen volatility. Even so, analysts warned of a pullback toward $78,000–$80,000 if buying does not resume.

Among altcoins, SUI led gains. Over 24 hours, it jumped 20% to $1.27.

The rally likely reflects SUI Group’s decision to stake 108.7 million coins, reducing available supply. Interest was also supported by the launch of futures on CME and the project’s partnership with fintech firm Paga to enable cross-border payments. 

XRP broke multi-week resistance at $1.45. The rise was accompanied by a spike in trading volumes, indicating activity from large players.

The token moved out of the $1.41 area. Within an hour, trading volume exceeded $169 million and price reached a local high of $1.507, before retreating back to $1.45.

Analysts noted the importance of clearing $1.45—this level had capped rallies since April. Heavy volume confirms the move, though momentum faded near the psychological $1.50 mark.

Trader and analyst Michaël van de Poppe highlighted the upside potential for altcoins. According to him, most assets have fallen by 90% since the summer of 2024 and are now starting to recover.

Most #Altcoins have gone down by 90% since the Summer of ’25.

They are barely breaking out, but the upside is enormous.

Things can go really quickly in a matter of weeks, and these are the first signs that we’re seeing on the markets.

I don’t think this will end relatively…

— Michaël van de Poppe (@CryptoMichNL) May 10, 2026

He noted that the market shows early signs of a move that could accelerate within weeks, calling the upside “enormous”.

At the same time, the trader warned of sharp pullbacks. He recommended gradually increasing the share of stablecoins in portfolios to buy dips.

Van de Poppe does not expect the current cycle to end soon.

Short-term holders’ profit

Unrealised profit for bitcoin short-term holders (STH) reached $19.25 billion amid the price rise, according to an analyst using the pseudonym Zizcrypto.

$BTC: STH Unrealized Profit Rebuilds Below Prior Peaks

Short-Term Holder supply, defined as coins younger than 155 days, is seeing unrealized profit rise again as Bitcoin trades near $81K.

As of May 10, STH Unrealized Profit stands at $19.25B, showing renewed growth while… pic.twitter.com/dUrdlgH8Zi

— Zizcrypto (@_Crypto_glass) May 11, 2026

STH refers to wallets that hold coins for fewer than 155 days. Their profit is rising but remains well below previous peaks. For comparison: in October 2025 it was $50.16 billion, and in January 2026 — $28.35 billion.

The analyst believes selling zones may form at lower profit levels than before. This implies the market does not need to return to extreme profit readings to start a correction.

The current set-up suggests scope for further gains. However, if the rally continues, newer bitcoin holders will become more sensitive to price changes.

Zizcrypto stressed that profit growth by itself does not confirm immediate selling. Short-term investors’ behaviour will be a key factor if prices continue to recover.

On May 8, the price of the leading cryptocurrency fell below $80,000 amid US strikes on targets in Iran.