Bitcoin Breaks $80,000, Is It Expected to Reach the $100,000 Mark?
TradingKey3 min read·Just now--
Since May, Bitcoin ( BTCUSD) prices have continued to rise, successfully surpassing the $80,000 mark this week. Meanwhile, the technical setup has formed a candlestick pattern consisting of a range breakout followed by a retest for confirmation, opening up further upside potential for Bitcoin.
Fundamental Analysis
From a fundamental perspective, the core driver of this rally has been the continuous inflow of capital.
According to statistics from CoinGlass, U.S. spot Bitcoin ETFs saw a net monthly inflow of approximately $2.44 billion in April 2026, setting a record for monthly capital inflows this year and directly driving an 11.81% gain in Bitcoin for the month.
The strong inflow trend continued in early May. As of now, Bitcoin’s cumulative inflows for May have reached $1.38 billion, with a single-day net inflow of $532 million on May 4. Among these, BlackRock’s iShares Bitcoin Trust (IBIT) contributed $335 million, and Fidelity’s FBTC saw a net inflow of $184 million. This sustained influx of market capital has reinforced the continuity of Bitcoin’s market trend.
In terms of market sentiment, as signals of easing tensions between the U.S. and Iran emerged, global risk appetite rebounded, pushing Bitcoin prices above $80,000. Simultaneously, the market also saw approximately $270 million in Bitcoin short liquidations, with short covering further amplifying the price upside.
Furthermore, the latest news shows that a bipartisan compromise has been reached in the U.S. Senate regarding the Clarity Act. This means a clearer framework for digital asset regulation and decreasing uncertainty for stablecoins and trading rules, which has also bolstered crypto-related stocks. For Bitcoin, improved regulatory clarity may not immediately trigger a price breakout, but it will enhance the feasibility for institutions to continue adding to their positions.
At the same time, the acceptance of Bitcoin by traditional financial institutions is also increasing. Morgan Stanley ( MS) has already launched spot Bitcoin ETFs, and Goldman Sachs ( GS) has become an authorized participant for the BlackRock Bitcoin ETF and simultaneously holds multiple Bitcoin ETF assets, while Citigroup ( C) is even launching digital custody services, indicating that Bitcoin is continuing its transition from a fringe asset to an allocatable asset.
Technical Analysis
According to the Bitcoin weekly chart, the medium-to-long-term uptrend was broken after Bitcoin fell below the 2025 low of $74,508 in February.
Simultaneously, Bitcoin’s price crossed below both the MA60 and MA144 medium-to-long-term moving averages, further confirming the view that the medium-to-long-term uptrend has been compromised and shifting overall market sentiment toward a bearish bias.
Looking at the Bitcoin daily chart, Bitcoin found support at the $60,000 level after the late-January crash. Prices consolidated above $60,000 throughout February and March, suggesting a short-term bottom has been formed. Following the breakout of the $75,700 resistance level on April 17, short-term upside has been unlocked.
Meanwhile, recent price action has formed a structure of a range breakout followed by a retest. After breaking the $75,700 mark, Bitcoin’s price retraced to test this level on April 29 and closed with a bullish candle above it the next day, demonstrating effective support and facilitating further upside.
Currently, the primary upside objective is the Fibonacci 0.382 retracement at $85,300. A strong breakout above this level would unlock further upside, potentially paving the way toward $98,000 or even the $100,000 psychological milestone; otherwise, the price may pull back to retest the $75,700 support level.
Support levels: 75,700, 60,000
Resistance levels: 85,300, 97,924
