Bitcoin remains under pressure and still has not confirmed a meaningful local low. In today’s update we take a closer look at the higher timeframe Elliott Wave structure, the short-term Bitcoin microstructure, and the Bitcoin dominance chart to assess whether the next larger sell-off could already be starting.
We discuss why the current structure still fits a larger corrective ABC pattern, why the $39K-$40K region remains an important downside reference point, and what Bitcoin dominance could mean for altcoins during the next phase of the market.
Bitcoin (BTC) is trading near $77,260, demonstrating steady consolidation as buyers actively defend a multi-week floor around the $76,000 to $77,000 zone.
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Bitcoin BTC Price News & Insights Today 21-5-2026 - Technical analysis of BTC, on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin Insights Today
-SpaceX Holding Breakdown: A highly anticipated IPO filing revealed that Elon Musk's SpaceX holds 18,712 BTC, valued at roughly $1.29 billion. This massive corporate treasury exposure injected instant validation into market sentiment.
-Saylor's Strategic Push: MicroStrategy executive Michael Saylor stated on CNBC that the firm aims to absorb all organic miner supply. MicroStrategy has already purchased 171,238 BTC in 2026, outstripping the year's total mined supply by 2.7 times.
-Macro Catalyst Rotation: Crypto data centers tied to Bitcoin mining saw major boosts today following massive Nvidia earnings beats. Meanwhile, minor relief in global interest rates and hints that the US-Iran conflict is entering its final stages are acting as broad "risk-on" drivers.
-Blockchain.com IPO filing: In broader industry news, crypto giant Blockchain.com officially filed for a US Initial Public Offering with the SEC.
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