$80k

Bitcoin is surging toward $80K. This movement points to a liquidity-driven momentum shift that may result from rebounding ETF flows, according to Bernstein.

Bitcoin reached new highs while Ethereum failed to break its local high after a correction on 17 April. A 8% divergence between BTC and ETH in late April signals a potential altcoin sell-off in May, with the 'Sell in May and go away' stock market trend possibly impacting cryptocurrencies. ETH outflows from exchanges and ETF inflows highlight mixed investor behavior.

Bitcoin's price failed to revisit $80,000, prompting focus on the weekly candle close as a critical level for reclaiming the bull market support band. Traders are monitoring Bitcoin's performance at this key support level to gauge potential market direction.

The article discusses a debate about whether the current market is following a 4-year cycle pattern, with predictions of a rise to $80k followed by a crash to $50k. It questions if this is a 'bull trap' or if technical analysis (TA) used to predict it is outdated.

Bitcoin inflows to Binance have reached a 2023 low, while Coinbase shows stronger activity. Easing selling pressure on Binance coincides with Bitcoin bulls targeting $80,000.