Radar Crypto — May 7, 2026
Thursday arrived with Bitcoin retreating to US$ 79.767, a 2.2% drop in the last 24 hours that brought the market back to reality after the week's rally. The movement is not surprising: after touching US$ 81.600 yesterday, some technical cooling was expected. What stands out is BTC dominance rising to 60.2%, signaling that money is migrating from altcoins to the digital "safe haven".
The Fear & Greed index at 47 points reflects exactly the moment: neither euphoria nor panic. It is the neutral ground where the coming hours will define whether we continue the weekly upward movement (+4.6%) or enter a deeper correction. Volume of US$ 133.77 billion remains stable, indicating that there has not yet been massive capitulation.
Bitcoin: Bearish Structure, Bullish Trend
Bitcoin's technical situation is at a crossroads. The RSI at 56 points offers room for both upside and downside — neither overbought nor oversold. But it is the structure of moving averages that tells the real story.
With price at US$ 79.767, BTC is trading above the 20-day SMAs (US$ 77.754) and 50-day (US$ 73.234), maintaining the positive short-term trend. The problem lies in the SMA200 at US$ 83.142: it continues 11.9% above the SMA50, a configuration that technically defines a bearish structure.
Análise Técnica — Bitcoin
The weekly support at US$ 78.172 is being tested. If broken, the next floor only appears at US$ 70.757 (monthly support). On the opposite side, resistance at US$ 81.425 needs to be reclaimed to validate continuation of the uptrend.
CoinTelegraph's analysis of ETFs recording a four-month high in weekly inflows may explain why we haven't seen a more aggressive correction yet. Institutional money is entering, but gradually.
Ethereum: Lost Among Averages
Ethereum is worse off than Bitcoin. At US$ 2.290, practically glued to weekly support, ETH lost 2.8% on the day and shows clear signs of relative weakness.
RSI at 44.5 is already flirting with oversold territory, while dominance fell to 10.4%. The bearish structure is even more pronounced: SMA50 is 17.3% below SMA200, indicating that selling pressure predominates in the medium term.
Análise Técnica — Ethereum
The price is trapped between the SMA20 (US$ 2.318) and SMA50 (US$ 2.222), a configuration that defines mixed trend. If the support at US$ 2.290 breaks, the next floor is at US$ 2.189.
The declining volatility in ETH is not necessarily positive. It may indicate disinterest before a more abrupt movement, especially with resistance at US$ 2.361 still distant.
Market Overview
Global market cap of US$ 2.66 trillion lost about US$ 60 billion in the session, but remains within the consolidation range of recent weeks. The rotation toward Bitcoin (dominance at 60.2%) suggests that investors are prioritizing liquidity and "lower risk" within the crypto ecosystem.
Among the news moving the market, notable is the 5% drop in Coinbase stock after results below expectations in Q1. As the largest American exchange, the company's performance serves as a thermometer for domestic institutional interest.
Highlights and Losers
SIREN leads gains with impressive +11.2%, followed by WLFI (+9.4%) and TON (+8%). Isolated movements that do not reflect the general market sentiment.
On the opposite side, SKYAI plummeted 21.5%, while LUNC (-12.1%) and DASH (-8.1%) complete the team of biggest losers. Lower-cap altcoins continue to suffer from capital migration to first-tier assets.
Stablecoin Rates
USDT and USDC maintain parity close to the dollar, reflecting stability in funding at major exchanges. For Brazilian investors, it is worth observing how the real exchange rate directly impacts the costs of entering and exiting the crypto market.
Weekly Perspective
Bitcoin's week still closes positive (+4.6%), but the dynamics have changed. What began as a sustained rally now faces clear technical resistance at multiple timeframes.
Thursday's movement will be crucial. Breaking the support of US$ 78.172 could accelerate correction toward the US$ 70.000 range. Recovering US$ 81.000 keeps the uptrend continuation scenario alive.
Also read on ON3X: our investigation into Argentina's operation against crypto pyramids shows how regulators are intensifying actions in Latin America.
What to Watch Tomorrow
- Bitcoin's support sustenance at US$ 78.172
- Volume behavior during American market opening
- Ethereum testing weekly support at US$ 2.290
- US employment data (NFP) may impact correlation with traditional markets
- Bitcoin ETF flows — whether inflows continue even with correction
Disclaimer: Radar Crypto is published daily by the ON3X team for informational purposes only. This content does not constitute investment recommendation. Conduct your own research before making financial decisions.