Bitcoin (BTC): Top On-Chain Analyst Says $80K Is Key Test Level

utoday04-13 15:17

Bitcoin is flashing significant bullish signals across both on-chain metrics and institutional investment products.This could set the stage for a much-awaited run at a major psychological resistance ...

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Unsurprisingly, BlackRock’s iShares Bitcoin Trust (IBIT) did the heavy lifting, accounting for $612.1 million of that total.Bloomberg Senior ETF Analyst Eric Balchunas has noted that it has completely wiped out previous deficits. \"Another solid week for the bitcoin ETFs, they are now officially positive in YTD flows,\" Balchunas posted. He praised the resilience of traditional institutional investors despite Bitcoin's recently \"upwardly challenged price.\"Bitcoin recenlty experienced a multi-week uptrend. A sequence of strong green candles pushed the asset steadily higher, culminating in a test of the $73,000 resistance level by April 11.The momentum was interrupted on April 12, with the price plummeting down to the $70,500 range. At press time, the flagship coin is changing hands above the $72,000 level. With capital flows turning positive, ETF buyers accumulating heavily, and spot buyers immediately front-running price dips, Willy Woo's $80,000 test level may soon become a reality.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627463087","isCrawlerRequest":true}