Bitcoin reclaims $80k as ETF inflows rise; traders expect range
Bitcoin tops $80,000 for the first time since late January. The move is quick, but traders stay cautious.
Price holds near $80,000 after a 0.72% 24h gain and a bounce from ~$75,658. Intraday action sits in a tight band. A firm hold above $80k on spot volume matters. Without it, $80k acts like a ceiling, not a launchpad. Source: TradingView BTCUSD.
U.S. spot ETF demand stays strong. Net inflows hit about $2.7B over three weeks, pushing total net assets above $100B. Source: SoSoValue US spot BTC ETF flows.
Prediction markets price a grind, not a breakout. On Polymarket, odds of $85k in May sit at 56%. Odds of $90k are 23%.
Key levels traders track:
- Support at $76,700–$78,094
- Resistance at $79,100–$80,000
Source: TradingView BTCUSD.
Setups on the table:
- Bull case: ETF inflows continue, Fed holds rates. Path toward $85k opens. Sources: SoSoValue, TradingView.
- Base case: Range trade between $78k and $82k while positions reset. Source: TradingView.
- Bear case: A slowdown in inflows triggers a long squeeze, as seen recently. Source: Coinspeaker coverage of the prior flush.
Context: Coinspeaker. First mention: Bitcoin (BTC).