JAKARTA - The crypto asset market showed positive movement in the last 24 hours, with Bitcoin (BTC) strengthening 1.22% to the level of US$81,150 or around Rp1.41 billion on Wednesday, May 6 at 08.00 WIB.
Financial Expert Ajaib, Panji Yudha, said that this increase occurred amid a significant spike in BTC prices, which had touched US$81,785 (Rp1.42 billion), after being held below its psychological level for almost three months.
"This massive spike was triggered by a short squeeze worth 450 million US dollars, as well as positive news from Washington regarding the finalization of the Clarity Act (US crypto market structure regulation)," Panji said in his statement.
The bullish sentiment was also strengthened by institutional fund flows. Spot Bitcoin ETFs recorded a net inflow of US$630 million on May 1, 2026, followed by an additional US$532 million on May 4, 2026.
On the corporate side, MicroStrategy reported a net loss of 12.54 billion US dollars in the first quarter of 2026. The loss was largely due to an unrealized loss of 14.46 billion US dollars due to the application of mark-to-market accounting for Bitcoin holdings.
However, the company's shares have jumped 56% in the past month, driven by investors' high interest in STRC preferred shares.
Another development came from Toncoin (TON) which jumped 36% after Telegram founder Pavel Durov announced plans to take full control of The Open Network.
This step includes plans to cut transaction costs to near zero and make Telegram the largest validator on the network.
Meanwhile, Polygon (POL) is attracting the attention of traditional financial institutions through the launch of its Private Stablecoin Payments feature based on Zero-Knowledge Proofs (ZKP) technology.
This feature allows for large-scale stablecoin transactions with a high level of privacy without sacrificing network validation.
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