‍#Gate广场五月交易分享

Bitcoin Price Surpasses $81,500 for the First Three Months, New Target: $84,000

Bitcoin price surpassed $81,500 for the first time in three months, with $84,000 emerging as the new target.

The liquidation of short positions, spot ETF inflows, and on-chain data were key factors in the market rally.

While long-term investors and ETFs increased their Bitcoin accumulation, technical targets point to $94,800.

The most critical point: If it cannot remain above $82,000, rapid pullbacks may occur, and volatility in the $BTC market may continue.

After being stuck below the $80,000 level for approximately three months, Bitcoin price reached $81,500 with a strong rally earlier this week. This move was supported by the liquidation of $450 million worth of short positions in the crypto market, increased investment inflows into spot ETFs, and strong buyer signals seen in on-chain data. After a long period of impatience in the market regarding price predictions, this breakout has sparked renewed discussions about new price levels.

Technically, Bitcoin surpassed the market average of $77,500 and the short-term investor cost level with Monday's rise, then broke through the resistance zone it hadn't been able to overcome since November. During this surge, a total of $1.98 billion in buy transactions took place on one exchange within two hours. Such high-volume transactions usually indicate the entry of aggressive trend traders.
Institutional analysts highlighted the shift in the technical outlook. Jeff Park, on social media, stated, "If it stays above $82,000, the uptrend will open up." Technically, he suggests that a break above this level would trigger a new uptrend in Bitcoin, potentially targeting $94.80.

Jeff Park, from BTC, pointed out that if the price rises above $82,000, the uptrend could accelerate.

Long-term and ETF impact

Data shows that long-term Bitcoin holders have accumulated 331,000 BTC in the last 30 days, amounting to approximately $26.7 billion. This investor group is generally more cautious about selling their assets. Spot Bitcoin ETFs traded in the US recorded a net inflow of $1.18 billion over three consecutive days; on Monday alone, this figure reached $532 million. The total assets under management for spot Bitcoin and Ethereum ETFs reached $147 billion. According to reports, Bitcoin's price was $81,500 at that time.
On the mining front, while total hashrate fell by 13% in the last quarter, the hash price, an indicator of profitability, rose to $37, reaching this level for the first time since the end of January. Large mining companies, in particular, continued to allocate revenue to AI centers, resulting in increased profitability.

Short-term goals and potential risks

According to experts, the most closely watched level in the short term is the CME futures price gap at $84,000. Buy orders are accumulating in the Bitcoin spot price up to $84,600, creating a dynamic that could accelerate the rise. However, if the price remains above $82,000, it technically creates a new target of $94,800.
However, potential risks are also apparent. Bitcoin is currently 36% below its all-time high of $126,200 recorded in October 2025. Furthermore, the close correlation with the Nasdaq 100 means that a potential correction in the stock market could also affect Bitcoin. If the price is rejected in the $86,000-$88,000 resistance zone, or if there is a weakening in ETF investments, a pullback to $77,500-$78,000 for Bitcoin could occur.

On the other hand, some analysts are skeptical of the bullish outlook. A well-known crypto analyst on social media is skeptical of the view that the bottom for Bitcoin has formed early and questions comments suggesting that the market cycle is ending sooner than normal. He characterizes 2026 as a bear market year and expects the true bottom to be seen in 2027.

Looking at the overall picture, while long-term investors continue to accumulate assets, the increase in ETF investments and the recovery in mining support the rise. A 50% change in positions has also been observed in the options market in a short period of time. In light of all these developments, the probability of the Bitcoin price moving towards $84,000 and then above $90,000 is increasing.
‍$BTC