Bitcoin Price News: BTC Back Above $80K as Senate Schedules Clarity Act Vote

Bitcoin price is up 1% today, pushing back above $80,000 after dipping below that level on Friday. The move brings BTC to around $80,300 at press time. The $82,800 level still acts as strong resistance – price got rejected there earlier this week.

Let’s dig into the Bitcoin news.

Bitcoin News Today

Bitcoin’s gain mirrors a broader risk-on day. The Nasdaq rose 2.2% and the S&P 500 gained 0.85% to record highs on May 8. The catalyst was a U.S. jobs report showing 115,000 jobs added – nearly double expectations. Positive macro data improved sentiment for correlated assets like crypto. Bitcoin is acting as a risk asset, gaining alongside equities on strong economic data rather than a coin-specific catalyst.

The Senate Banking Committee will hold an initial vote on the crypto Clarity Act bill on May 14 at 10:30 AM EST. Banks oppose the proposal, warning that stablecoin rewards could compete with savings accounts and pull deposits from traditional lenders. Crypto firms, including Coinbase, now support the updated language after a compromise from Senators Thom Tillis and Angela Alsobrooks.

Democratic support remains unclear, with unresolved concerns over how politicians can profit from digital assets. The bill may still change before any full Senate vote

Related news: Clarity Act News: 62% of Americans Want U.S. to Lead Crypto Rules

UBS Group purchased an additional 551,121 shares of MicroStrategy (MSTR), bringing its total holdings to 6.31 million shares worth approximately $1.12 billion. MicroStrategy holds 818,334 BTC on its balance sheet, making it the largest corporate Bitcoin holder. This is bullish for Bitcoin. It represents a massive, regulated institutional bet using a traditional equity as a proxy for BTC exposure. It validates the “corporate treasury” narrative and could encourage other large institutions to follow suit.

Bitcoin Miners book profits

Ali Martinez tweeted that Bitcoin miners have been booking profits. Since April 7 – exactly one month ago – miners shifted behavior. Back then, Bitcoin traded near $72,000. Through the recent climb to $82,790 (a 15% increase), miners steadily sold.

On-chain data shows they offloaded approximately 3,400 BTC during this run, taking advantage of the price expansion to cover operational costs or lock in gains at multi-month highs.

Bitcoin Price Prediction Today (May 9)

Below are our BTC price predictions for today:

Bullish scenario

BTC holds above $80,000 and reclaims $81,500 by daily close. The Clarity Act vote catalyst and UBS’s MSTR buy bring fresh attention. A break above $82.8K then targets $84K (200 MA).

Bearish scenario

Price fails at $81,000 and drops back below $80,000. Support at $78,500 gets tested. Miners’ selling continues, and macro optimism fades. A break of $78,500 opens $77,000.

Likely scenario

Range between $79,500 and $81,500 for the next 24-48 hours. Traders wait for the May 14 Clarity Act vote. The macro backdrop is positive, but resistance at $82.8K is real. Expect consolidation with a slight upward bias.

Overall, Bitcoin climbed back above $80,000 on strong jobs data, following stocks higher. The Senate sets a May 14 Clarity Act vote – a potential game changer for crypto regulation. UBS added $1.12B of MSTR stock, a massive institutional bet on Bitcoin. Miners sold 3,400 BTC during the rally, but that hasn’t stopped the uptrend. The next few days will test whether BTC can finally crack $82.8K.

FAQs

Why is Bitcoin up today

A strong U.S. jobs report (115K jobs added, nearly double expectations) pushed stocks to record highs, and Bitcoin followed as a risk asset.

Will the CLARITY Act pass in 2026

It’s likely, but not a certainty. The bill cleared a major hurdle with a bipartisan compromise in May 2026, and the Senate Banking Committee will hold a key markup vote on May 14, with a full Senate vote expected by June or July

. The White House has set a goal to sign the bill into law by July 4. Prediction markets like Polymarket currently estimate the probability of passage at about 70% today. 

Where is Bitcoin headed

On the bullish side, firms like Tiger Research and Bernstein target $143,000 to $150,000, driven by institutional ETF inflows, a dovish Federal Reserve, and a resolution of geopolitical tensions, with some models even suggesting a peak near $320,000 later in the cycle.
On the bearish side, a failure to decisively pierce the major resistance at the 200-day moving average (near $84,000) is the biggest risk, with some analysts warning of a potential drop to $50,000 if the rally fails.

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