Bitcoin maintains position above $81,500 while $135 million in leveraged crypto positions liquidated
May 12, 2026
Bitcoin has maintained its strong position above $81,500 after reaching a peak of $82,458 on Sunday and continuing to test resistance near $82,000 on Monday. The cryptocurrency started the day just below $80,700 and steadily climbed, hitting resistance at $81,250 in the morning before dropping to $80,536. Bitcoin then swiftly rose again, reaching above $81,840 around midday. As of the latest update, bitcoin remained above $81,500, signaling a potential move to test the $82,000 resistance once more. Despite the fluctuations, bitcoin recorded a 0.3% increase over 24 hours and less than 2% over the past seven days, resulting in a market capitalization of approximately $1.64 trillion. Nearly $135 million in leveraged positions on bitcoin were liquidated within 24 hours, with long bets contributing $88 million to the total.
The slight uptick in bitcoin prices was reflected in key Wall Street equities, which remained mostly stagnant following significant gains at the end of last week. Market sentiments were shadowed by geopolitical tensions in the Middle East, escalating after President Donald Trump criticized Iran’s latest peace proposal, rejecting it as “unacceptable.” This unfavorable development set the tone for another volatile week in the global markets, quashing hopes for a peaceful resolution.
Trump’s rejection caused Brent crude oil prices to surge to $105 per barrel as fears intensified regarding the disruption of oil supply chains. A grim outlook was offered by Aramco CEO Amin Nasser during the company’s first-quarter earnings call, warning that the oil markets might not stabilize this year if traffic through the Strait of Hormuz remained blocked. Nasser emphasized that even if the Strait were to open today, it would take several months for the market to rebalance. However, further delays in its reopening could potentially extend the normalization process until 2027. This prolonged turmoil in global oil markets poses a significant risk of triggering a systemic global recession.
The ongoing geopolitical standoff between Washington and Tehran heightens the likelihood of a severe regional escalation with foreseeable dire consequences. Engaging in kinetic warfare not only threatens to disrupt regional economies for an extended period but also poses a considerable obstacle to the global efforts to achieve prewar stabilization. The Trump administration is actively working to prevent such destabilizing outcomes as it navigates the delicate balancing act of international diplomacy amidst rising tensions.
