Bitcoin steadies near $80K as Schwab launches spot BTC trading

Published: 2026-05-13 15:23:25 |

Bitcoin is holding around $80,000 as Charles Schwab rolls out spot Bitcoin trading for U.S. retail clients via the Schwab Crypto platform. The brokerage plans direct BTC access with Paxos handling execution and sub-custody; the spot fee is 75 bps and coverage excludes New York and Louisiana. On the market tape, Bitcoin is largely range-bound near $79,700–$80,200 after a macro shock: U.S. April PPI beat expectations (headline +1.4% vs 0.5% consensus), reviving rate-hike fears and pressuring BTC sentiment. ETF flows also turned risk-off—spot Bitcoin ETFs recorded a net -$233 million on May 12, led by an $86 million outflow from Fidelity’s FBTC. Meanwhile, Strategy’s STRC preferred equity regained its $100 par value, potentially enabling fresh BTC purchases. Traders are watching technical levels closely: analysts warn a breakdown below $80,000 could expose $78,000 then $75,000, while a reclaim of $80,400 may reopen upside toward $82,852 and the larger $89,065 resistance. Ethereum ETFs saw additional outflows (about -$131 million), reinforcing a cautious cross-crypto tone. Overall, Bitcoin’s setup is a tug-of-war between traditional-broker adoption (bullish) and tightening-rate/ETF outflow headwinds (bearish).

Neutral

The news is mixed for Bitcoin. Positively, Schwab’s move to launch spot Bitcoin trading for U.S. retail expands “traditional brokerage” access beyond ETFs, which can improve long-term demand channels and reduce friction for new allocators. The STRC par-value recovery also hints at potential fresh BTC buying capacity. However, the near-term tape is dominated by macro and positioning signals. A hot U.S. PPI print has revived rate-hike expectations (similar to prior periods when upside inflation prints flipped Fed-cut bets), which tends to pressure risk assets and slows dip-buying. Spot Bitcoin ETF outflows (-$233M, led by FBTC) further signal weak marginal demand. Technical analysts also flag that losing the $80,000 area could quickly accelerate downside to $78,000 and $75,000. Given ETF flows and rate-hike fears can outweigh incremental adoption catalysts in the short run, the most likely outcome is continued consolidation/range trading around the critical support zone, unless ETF demand turns positive and macro data cools.