Bitcoin and Ethereum traded lower on Thursday as Consensus Miami 2026 entered its final session, with the broader crypto market giving back some of this week’s gains even as US equities pushed to fresh record highs.
$BTC is changing hands at $80,268, down 1.5% over the past 24 hours but still up 5.2% on the week, according to CoinGecko. The leading crypto asset climbed to an intraday high above $82,500 earlier in the day before pulling back. $ETH dropped 2.5% to $2,300, holding on to a 1.7% weekly gain.
The total cryptocurrency market capitalization slipped to roughly $2.75 trillion, down 1.3% on the day.
Most Top 10 assets followed $BTC and $ETH lower. Solana trades at $88, flat on the day but up 6.1% for the week. XRP slipped 2.1% to $1.39, while Dogecoin was the day’s biggest loser, falling 3.4%.
TRON bucked the trend, gaining 1.4% and extending its weekly advance to 7%. Hyperliquid’s HYPE fell 3.2% on the day but remained the best weekly performer in the Top 15, up 8%.
Bitcoin’s slide below $81,000 followed Strategy Executive Chairman Michael Saylor signaling that the firm may sell Bitcoin to cover dividend obligations on its STRC preferred stock, a departure from his long-held “never sell” stance.
“Buy more bitcoin than you sell,” Saylor posted earlier today.
Spot ETFs Extend May Inflow Streak
Spot Bitcoin and Ethereum ETFs continued to absorb capital through the week, reversing a string of late-April outflows.
US spot Bitcoin ETFs took in $1.68 billion across the four trading days from May 1 to May 6, led by a $629.7 million haul on May 1 and a $532.2 million day on May 4, according to SoSoValue. Daily inflows tapered to $46.3 million yesterday.
Spot Ethereum ETFs took in $271.6 million over the same window, with a $101.2 million inflow on May 1 marking the strongest day.
Stocks Hit Record High as Crypto Diverges
The crypto pullback runs counter to traditional markets, where major US indexes extended Wednesday’s record close on hopes of a US-Iran peace deal. The S&P 500 closed at 7,365 on Wednesday and traded modestly higher on Thursday, while the Nasdaq Composite added 0.2% above 25,800.
Oil prices have continued to slide on the same backdrop. WTI crude dropped roughly 3% to about $91 per barrel as Iran reviewed a 14-point US peace proposal expected to include a moratorium on nuclear enrichment. The decoupling places crypto’s softness in sharper relief, suggesting Thursday’s move reflects the Saylor headline more than broader risk-off sentiment.
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