#BitcoinHoldsFirmAbove80K

— update for May 9 morning 🟢

Price check:
BTC: $81,278.8
24h range: $80,457.93 – $81,791.48
IBIT ETF: $46.28, +1.94%

What’s keeping it above $80K

ETF bid is real
Friday saw $629.8M net inflow into US spot BTC ETFs, strongest day in 2 weeks
11 of last 14 trading days had positive flows
BlackRock’s IBIT took ∼70% of April’s $2.44B inflows

Technical hold
Broke $80K in Asian trading Monday, tagged $80,610
Daily close above $80K flips it from resistance to support. That’s what bulls needed to prove the Jan correction is over
Next targets: $81,912, then $83,437 if momentum holds

Liquidation setup favors bulls
$383M shorts liquidate above $80,835
$1.35B longs liquidate below $77,965
Asymmetric risk if we push higher

The risks

Leverage-driven: CryptoQuant says April-May move was fueled by perpetual futures, not spot. Spot demand actually contracted.
Conviction check: Polymarket gives 56% odds of $85K this month, only 23% for $90K. Traders don’t fully trust it yet.

Key level: Hold $80K on daily close = bulls in control. Lose it and we retest $77.5K-$78K fast where that $1.35B long cluster sits.

Macro backdrop: Asia equities at 3-month highs, risk-on sentiment helping. But Iran-US headlines are still adding volatility.

So far, buyers are defending $80K. If we close the week above it, $85K-$88K is in play. Lose it, and we get a flush.

You looking to add here or waiting for a retest of $80K?

$BTC $GT $DOGE