$BTC May 4 Cryptocurrency Market Analysis

Today’s crypto market experienced a strong breakout, with bullish momentum accelerating. BTC volume surged, breaking above the $80,000 mark, reaching a three-month high. Market sentiment fully recovered, with mainstream coins rising across the board. Bitcoin’s current price is around $80,300, with a 24-hour increase of approximately 2.8%. The intraday low was $78,081. In the early hours, a strong rally pushed past $80,000, with a high of $80,621, showing robust bullish momentum. Ethereum also surged simultaneously, trading at $2,385, up 3.8%. Mainstream coins gained 2%-5%, with the altcoin sector active and low-priced rebounds clearly evident.
The entire network saw over $300 million in liquidations in 24 hours, with short positions accounting for over 90%, nearly clearing out all bears; panic and greed index is at 47, returning to a neutral-to-bullish zone, restoring market confidence.
News: U.S. crypto legislation expectations are optimistic, with an agreement likely on stablecoin provisions; BTC spot ETF continues to see net inflows, supported by institutional funds; the dollar weakens, risk appetite increases, and macroeconomic conditions are favorable.
Technical: BTC daily candle closed with a large bullish breakout, with a bullish arrangement on the 4-hour chart. Resistance is at 80,800-81,500, support at 79,500-79,000. ETH resistance at 2,400-2,420, support at 2,350-2,320.
Short-term bullish trend confirmed, favoring low buy-in on dips, avoiding chasing highs. Light positions around 79,500-79,800, with strict stop-losses. Watch for a breakout above 80,800 with momentum.
⚠️Risk reminder: Cryptocurrency markets are highly volatile. The above analysis is for informational purposes only and does not constitute investment advice.