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Bitcoin price first breaks through $81,500, future target: $84,000
Bitcoin price first breaks through $81,500 in three months, with $84,000 becoming the new target.
Short position liquidations, spot ETF inflows, and on-chain data are key factors for the market rebound.
Although long-term investors and ETFs have increased Bitcoin holdings, the technical target points to $94,800.
The most critical point: if it cannot stay above $82,000, a rapid pullback may occur, and $BTC market volatility could persist.
After hovering below $80,000 for about three months, Bitcoin price rebounded strongly to $81,500 earlier this week. This movement was driven by $450 million in short position liquidations in the crypto market, increased investment inflows into spot ETFs, and strong buy signals from on-chain data. After the market grew impatient with long-term price forecasts, this breakout has sparked renewed discussion about new price levels.
From a technical perspective, Bitcoin surpassed the market average of $77,500 and the short-term investor cost basis during Monday’s rally, then broke through resistance levels that had not been breached since November last year. During this rally, $1.98 billion worth of buy trades occurred within two hours on one exchange. Such high trading volume typically indicates the entry of aggressive trend traders.
Institutional analysts emphasized a shift in technical outlook. Jeff Park stated on social media: “If it can stay above $82,000, the upward trend will begin.” Technically, he suggests that breaking this level will trigger a new Bitcoin rally, with a target possibly reaching $94,800.
Jeff Park from BTC noted that if the price breaks above $82,000, the upward trend could accelerate.
Long-term and ETF impacts
Data shows that over the past 30 days, long-term Bitcoin holders have accumulated 331k BTC, worth about $26.7 billion. These investors tend to be more cautious about selling assets. The US-traded spot Bitcoin ETF has seen net inflows of $1.18 billion for three consecutive days; on Monday alone, inflows reached $532 million. The total assets under management for spot Bitcoin and Ethereum ETFs have reached $147 billion. At that time, Bitcoin was priced at $81,500.
In mining, despite a 13% decrease in total hash rate last quarter, the hash price indicator rose to $37, reaching its highest level since late January. Major mining companies continue to reinvest earnings into AI centers, boosting profitability.
Short-term targets and potential risks
Experts point out that the most closely watched level in the short term is the CME futures price gap at $84,000. Buy orders are accumulating in Bitcoin spot prices, reaching as high as $84,600, creating potential momentum for an accelerated rally. However, if the price remains above $82,000, the new target from a technical perspective would be $94,800.
But potential risks are also evident. Bitcoin is currently 36% below its all-time high of $126,200 set in October 2025. Additionally, its high correlation with the Nasdaq 100 means that a stock market correction could also impact Bitcoin. If the price is rejected at resistance zones of $86,000–$88,000, or ETF investments weaken, Bitcoin could pull back to $77,500–$78,000.
On the other hand, some analysts remain skeptical of the bullish outlook. A well-known crypto analyst expressed doubt about the idea that Bitcoin has already bottomed out on social media, questioning the notion that the market cycle ends earlier than usual. He defines 2026 as a bear market year, with the true bottom expected in 2027.
Overall, while long-term investors continue to increase holdings, the rise in ETF investments and mining recovery support the bullish case. The options market has also experienced a 50% position change in a short period. Combining all these developments, the possibility of Bitcoin reaching $84,000 and even surpassing $90,000 is increasing.
$BTC