Analysis: BTC approaches the key level of $80k, supported by institutional funds and whale purchases, but whether it can break through further remains to be verified.

Odaily Planet Daily News: Bitcoin is once again pressing toward the $80,000 level, and market analysis suggests that this area has become a key resistance point for testing the strength of this round of rebound. On the funding side, continued institutional inflows are providing support. Data shows that Bitcoin spot ETFs have recorded net inflows for 6 consecutive days, and Ethereum spot ETFs have also logged 9 straight days of increases, indicating that risk appetite is recovering. Meanwhile, whale addresses holding more than 1,000 BTC have accumulated roughly 270,000 BTC over the past 30 days, marking the largest monthly increase since 2013, while exchange reserves have fallen to a seven-year low.

In terms of on-chain data, Glassnode notes that Bitcoin has once again regained the “real market average price” (about $78.1k), but short-term holder costs are around $80.1k, creating a direct pressure zone. Once the price reaches this range, more than 54% of short-term investors will move into profit; historically, this often corresponds to peaks during rebound phases. At the same time, the funding rate on perpetual contracts remains negative, indicating that short positions are relatively heavy. With spot demand continuing to improve, this could provide squeeze momentum for further upside.

Overall, although the capital structure and market resilience have improved, $80,000 is still a critical turning point. The market has not yet confirmed whether it can turn this resistance level into support. (The Block)