Bitcoin rose above $80k yesterday, currently trading around $79,900, up 1.66% for the day.

Core catalyst: The CLARITY bill clears major obstacles, with forecasts showing the probability of passing this year rising to 55–60%. Institutional expectations for compliance implementation have significantly restored confidence.

Technical perspective: The daily bullish structure remains intact, with a slightly strong oscillation on the 4-hour chart. Short-term support at 79,000–79,500, strong support at 78,000, resistance above at 80k–80,600, and a breakout targets 82,000. RSI at 65–68 is not overbought, with bulls and bears battling at the 80,000 level, awaiting directional confirmation.

Funding aspect: ETF saw a net inflow of $630 million last Friday, with a total of $1.97 billion inflow in April, reaching a new high for the year. Short positions were liquidated by over $350 million, with spot buying leading the rally. The Fear & Greed Index is at 41, indicating that market sentiment is not yet overheated.

Short-term focus: Whether volume can stabilize above 80,800 is key for a breakout; a drop below 78,000 would signal short-term weakness. Watch for bill progress and Middle East developments.
Trading suggestion: Short near 80,000 with a stop above 80,800, targeting 78,200.