It is interesting that Bitcoin has not broken the $79,000 resistance level. Despite approaching this level three times in eight sessions, the pullback indicates there is some uncertainty in the market. I saw that it was trading at $76,923 on Tuesday morning, so there is still a rise of over $40,000, but it lost 2.4% in the last 24 hours.

The interesting part is: there is disagreement among analysts. Some say retail investors are returning, while others claim this is just a short squeeze in the derivatives market. Looking at Coinglass data, funding rates are still negative, which indicates the squeeze movement is ongoing.

The news that whales have accumulated more than 40,000 BTC in the last two weeks is also significant. Institutional players are buying heavily — Strategy bought $3.9 billion worth of BTC in April, and Metaplanet continues with a new bond issuance.

This week, the Fed decision and earnings reports from major tech companies are coming. These could push Bitcoin above $80,000 or reinforce the current resistance. The tension in the Strait of Hormuz is also driving oil prices higher, affecting the macro environment.