Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards
Square
Latest
Hot
News
Profile

Analysis: BTC approaches the key level of $80k, supported by institutional funds and whale buying, but whether it can break through further remains to be seen.

MeNews
robot
Abstract generation in progress
ME News reports that on April 23 (UTC+8), Bitcoin is approaching the $80k mark again. Market analysis suggests that this level has become a key resistance to test the strength of the current rebound. On the capital side, continued institutional inflows provide support. Data shows that Bitcoin spot ETFs have seen net inflows for 6 consecutive days, and Ethereum spot ETFs have also recorded 9 consecutive days of inflows, indicating a recovery in risk appetite. Meanwhile, whale addresses holding over 1,000 BTC have accumulated approximately 270k BTC over the past 30 days, the largest monthly increase since 2013, and exchange reserves have fallen to a seven-year low. On-chain data shows that Glassnode points out that Bitcoin has once again broken above the "real market price" (approximately $78.1k), but the cost basis for short-term holders is around $80.1k, forming a direct resistance zone. Once the price reaches this range, more than 54% of short-term investors will enter profit, historically marking the top of a rebound phase. At the same time, the perpetual contract funding rate remains negative, indicating heavy short positions, which could provide short-squeeze momentum for further upside as spot demand continues to improve. Overall, although the capital structure and market resilience have improved, $80k remains a key watershed, and the market has not yet confirmed whether it can transition from resistance to support. (Source: ODAILY)
BTC1.23%
ETH3.22%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments

  • Pinned

Sitemap