#Gate广场五月交易分享 Bitcoin breaks through 80k, Ethereum price remains firm, is a reversal coming?

Who would have thought, just two months ago Bitcoin was struggling around $60k, on May 4th it directly broke through $80k, reaching a high of $80,594, marking a new three-month high.
Ethereum also kept pace, steadily staying above $2,300, oscillating upward. From “desperate deep trapping” to “breakout celebration,” this big surge— is it a true reversal or just another trap to lure in buyers?
Bitcoin surpassing 80k is an “emotional trigger,” Ethereum’s resilience is “market confidence,” the core isn’t how much it has risen, but that from the February low to now, Bitcoin has rebounded over 33%, and Ethereum nearly 40%. Behind this are institutional funds, macro environment, and market sentiment shifting collectively. Now, the question is: can this rally continue, or is it just a fleeting moment?
In February 2026, Bitcoin fell to around $60k, and the market was in despair, with the fear index dropping to “extreme fear” zone. But since April, the trend quietly changed: US Bitcoin spot ETFs have seen five consecutive weeks of net inflows, with a single-day net inflow of $629.8 million on May 1st, hitting a new high for the year. BlackRock bought nearly $2 billion worth of Bitcoin in a month, holding over 810k coins, accounting for 3.8% of the total supply. Ethereum ETFs also attracted funds, with net inflows of $155 million in the last week of April.
Now, the Crypto Fear & Greed Index has returned to 35, from “extreme fear” to “neutral,” clearly indicating funds are quietly bottom-fishing. Currently, global risk market sentiment is warming up, US stocks are near historic highs, Asia-Pacific markets are also rising, funds are no longer avoiding risk, and are rushing into high-risk assets. The weakening dollar, easing geopolitical tensions, plus Bitcoin’s supply reduction after the April halving—all these positive factors together pushed Bitcoin past the 80k mark. Previously, the crypto market was “playing by itself,” but now institutions and Wall Street are involved. The market logic has long changed; it’s no longer retail investors pushing the market, but big funds calling the shots.
Looking at Ethereum’s performance—more moderate but more stable than Bitcoin: from the February low of around $1,600 to over $2,300 now, nearly a 40% increase, steadily climbing along the 5-day moving average with minimal pullbacks. Ethereum is no longer just “following the trend,” its ecosystem is recovering, DeFi lock-up volumes are gradually rising, NFT markets are showing signs of warming, and the Dencun upgrade has lowered transaction fees. The fundamentals are much stronger than before. Previously, Bitcoin led the way, with Ethereum following; now, Ethereum can stand independently, indicating increasing market recognition.
First, the reversal has “solid support,” not just a reckless rise. This rally isn’t retail speculation; institutional money is pouring in, with ETF net inflows continuing and giants like BlackRock holding record positions. These funds aren’t here for a “one-day trip,” but for long-term deployment—this is the core foundation of the reversal. Plus, macro conditions are favorable: risk appetite is rising, the dollar is weakening, creating a “macro environment” conducive to crypto gains.
Second, the shift in sentiment from “despair” to “cautious optimism” signals a reversal. In February, no one dared to speak, and mentioning crypto would evoke sighs; now, after breaking 80k, discussions are everywhere in social circles and communities. The fear index has shifted from “extreme fear” to “neutral,” indicating a complete sentiment reversal—from “selling pressure dominant” to “buying pressure dominant.”
Third, it’s not a “reckless bull market,” there are clear shortcomings. Ethereum’s gains are weaker than Bitcoin’s, funds are mainly concentrated in Bitcoin, most altcoins haven’t moved, showing market caution. Funds are hesitant to fully enter, only buying mainstream coins for risk hedging. Also, the 80k level faces heavy selling pressure, with many trapped investors waiting to sell at a profit, so short-term volatility is inevitable.
Of course, we shouldn’t be blindly optimistic:
First, fear “good news is exhausted,” and a sudden pullback could happen. The positive factors like Bitcoin halving, ETF net inflows, macro recovery have been largely priced in. Breaking through 80k could easily lead to “good news being realized,” with large funds taking the opportunity to sell, trapping retail investors at high levels.
Second, fear “regulatory changes suddenly.” The US stablecoin legislation isn’t finalized yet, and regulatory attitudes could change at any time. If unfavorable policies are introduced, institutional funds might withdraw instantly, causing the market to collapse.
Third, fear “retail chasing high and buying in.” Many see the 80k breakthrough and expect it to reach 100k or 120k, blindly going all-in, ignoring the huge risks above 80k. A correction could trap them deeply, especially for those who bought at the high in October 2025 and are only now breaking even. Ultimately, Bitcoin breaking 80k and Ethereum remaining resilient is the “beginning” of a reversal, not the “end.” With institutional support, sentiment warming, and macro factors aligned, the foundation for a reversal exists, but it’s not yet a “full bull market,” and fluctuations and corrections will frequently occur.
For ordinary investors, avoid blindly chasing highs or using leverage to gamble on the market. It’s wise to allocate small positions to mainstream coins for long-term holding, and not expect overnight riches. The crypto market has always been “high risk, high reward”: when it rises wildly, it can fall just as sharply. The era has given the crypto market a chance for reversal, but whether it can develop into a real bull depends on sustained institutional funds, stable regulation, and continuous market sentiment recovery. It’s too early to call a “full reversal,” but one thing is certain:
The darkest hour has already passed.