Bitcoin Slides Below $80K as Trump Trust Buys Crypto Stocks, Mubadala Adds $566M IBIT Stake

Bitcoin News

Bitcoin fell below $80,000 at the Friday Wall Street open as a sharp move higher in long-dated US Treasury yields triggered a broad risk-asset sell-off. Bitcoin posted roughly 3% in daily losses, drifting toward the lowest levels seen so far in May, while US equities surrendered fresh record highs from earlier in the week. The 10-year Treasury yield pushed above 4.55% for the first time since May 2025, a threshold previously associated with policy stress. Rate-cut probabilities collapsed in futures markets, with traders now pricing in a meaningful chance the Federal Reserve's next move could be a hike rather than a cut.

Abu Dhabi's sovereign wealth fund Mubadala disclosed a 16% increase in its position in BlackRock's iShares Bitcoin Trust during the first quarter of 2026, lifting holdings to 14.72 million shares worth roughly $565.6 million as of March 31. The accumulation streak now spans five consecutive quarters, dating back to Q4 2024. Combined with sister vehicle Al Warda Investments under the Abu Dhabi Investment Council, the emirate's exposure to the spot Bitcoin ETF sits above $1 billion. The disclosure underscores how Gulf sovereign capital is steadily routing crypto allocations through regulated US wrappers rather than direct custody.

Newly released US Office of Government Ethics filings show President Donald Trump's family trust executed multiple purchases of crypto-linked equities during the first quarter, including Coinbase, MARA Holdings and Strategy. The two Form 278-T reports cover more than 3,600 transactions valued between $220 million and $750 million, with nine separate Coinbase buys disclosed. The largest single COIN purchase fell in the $100,001 to $250,000 range on February 10. Trades in Strategy Class A shares — a popular proxy for Bitcoin price exposure — included both buys and sells, suggesting active management by the trust's external brokers rather than passive accumulation.

IREN Limited closed a $3 billion convertible senior notes offering, locking in capital to accelerate its pivot from Bitcoin mining toward AI cloud infrastructure. Net proceeds of $2.96 billion include $201.3 million allocated to capped call transactions with a cap price of $110.30 per share, structured to limit dilution. The 1% coupon notes mature in 2033 and carry a 32.5% conversion premium. The raise follows a $9.7 billion AI hosting deal signed with Microsoft in November 2025 and a recent partnership with Nvidia to deploy up to 5 gigawatts of data-center capacity, including a $3.4 billion five-year Blackwell GPU contract.

Bitcoin Depot, the largest crypto ATM operator in the world, issued a formal going-concern warning in an SEC filing, flagging substantial doubt over its ability to remain solvent through the next twelve months. Preliminary first-quarter results showed revenue collapsed 49% year-over-year to roughly $83.5 million, while the company swung to a $9.5 million net loss from a $12.2 million profit a year earlier. The kiosk operator is fighting consumer-protection lawsuits brought by attorneys general in Iowa and Massachusetts and disclosed an internal accounting weakness tied to cash-in-transit reconciliation, compounding mounting litigation costs.

A second ethics filing from the president detailed personal trades in Coinbase, Robinhood and Bitcoin miners MARA and Cleanspark, with the largest crypto-linked purchase a Coinbase buy in the $100,001–$500,000 band on February 10. The Trump Organization stressed that trades are executed by independent third-party institutions without family input. Separately, organizers confirmed The Bitcoin Open — a combined scramble golf and Texas Hold'em poker event with two hole-in-one prizes of one BTC each — will take place at Glen Abbey Golf Club in Oakville on June 8, 2026, marking the venue's 50th anniversary year.

BTC trades near $79,048 with the 24-hour decline at 2.88% and a sideways structure intact. Immediate support sits at $77,925, followed by deeper bids at $73,990 and $71,924; resistance levels stack at $79,357, $82,002 and $89,065. RSI at 51.86 reflects neutral momentum, but MACD has flipped bearish, signaling weakening short-term candlestick follow-through. A daily close above $82,002 would invalidate the bearish thesis and reopen the path toward $89,000; a clean break of $77,925 risks a flush toward $73,990. Watch the 10-year yield as the principal macro tell — every uptick in real rates pressures the bull market case for risk assets, including the broader blockchain equity complex.