Bitcoin (CRYPTO: $BTC) is struggling to end the trading week above the key threshold of $80,000 U.S. In afternoon trading on May 8, BTC was changing hands at $79,800 U.S. after rising close to $82,000 U.S. earlier in the week, its highest level since January of this year.

Crypto bulls had reason to cheer as Bitcoin broke through resistance at $80,000 U.S. and managed to hold above that level for several days. Optimism around a lasting peace deal between the U.S. and Iran, equity markets at all-time highs, and the advancement of crypto legislation in Washington, D.C. helped to send BTC higher on the week. 

However, the rally seemed to lose some momentum heading into…