Bitcoin (BTC) | The Bull-Bear Battle at the $80,000 Threshold

Latest Market Overview

On May 8th, after several days of continuous gains, Bitcoin experienced a pullback, currently quoted around $79,500-$79,800, with a brief dip below the $80,000 round number. Previously, on May 7th, Bitcoin briefly broke through $82,000 to hit a new seasonal high, but sellers re-entered at the resistance zone of $81,200-$81,500, causing the price to retreat. Macro & Markets Daily Snapshot pointed out that if the price cannot effectively hold above the $78,800 support, selling pressure will intensify further. The daily bullish structure remains intact, but the 4-hour timeframe has turned weak, showing a short-term oscillating correction pattern.

Key Support and Resistance Levels

· First Support: $79,200-$79,500 (Short-term bullish defense zone)
· Core Support: $78,000-$78,800 (Break below tests previous lows)
· Strong Support: $77,200-$77,500 (Key bull-bear dividing line, close attention needed)
· Short-term Resistance: $80,800-$81,200 (Seller concentration zone)
· Critical Resistance: $82,000-$84,000 (Heavy resistance zone where price has repeatedly been rejected)
· Breakout Target: Above $85,000

Core Driving Logic and Trading Strategies

ETF capital inflows remain the most important institutional support for this round of market rally — on May 5th, Bitcoin spot ETF recorded a net inflow of $467.35 million, marking the 4th consecutive day of inflows, led by BlackRock’s IBIT with $251.43 million; earlier, on May 1st, a record single-day net inflow of $629.8 million was seen for 2026, with BlackRock contributing another $284.4 million. Exchange supply continues to tighten — the reserves of the three major exchanges have decreased by nearly 100k BTC (over $8 billion), supporting prices due to supply scarcity. Geopolitical risk easing also provides macro support — the nearing of a ceasefire agreement between the US and Iran has improved global risk appetite.

· Long (Conservative): Gradually build positions at $79,200-$79,500, stop-loss below $78,000, first target $81,500, second target $84,000
· Long (Aggressive chasing): Enter long after effectively breaking above $81,200, stop-loss at $80,000, target $84,000-$85,000
· Short (Short-term): Light short positions when encountering resistance and falling back at $80,800-$81,200, stop-loss at $82,000, target $79,000-$79,500