Institutional Funds Pouring in for 9 Consecutive Days, Will Bitcoin Easily Break Through $80,000?

▲ Bitcoin (BTC) Exchange-Traded Fund (ETF) ©CoinReaders

Driven by the relentless influx of institutional funds, the leading cryptocurrency is breaking through the bearish sentiment of the derivatives market and embarking on a robust upward consolidation, aiming squarely at breaking the $80,000 resistance.

According to CoinMarketCap, a cryptocurrency market aggregation site, on April 26 (local time), Bitcoin (BTC) rose by 1.00% over the past 24 hours, trading at $78,255.27. This movement aligns with the 1.17% increase in the total cryptocurrency market cap during the same period, suggesting that the overall market surge is driven less by specific individual positive news and more by sustained institutional buying through US spot exchange-traded funds.

The most powerful upward driver is the massive capital flowing in from traditional finance. According to SoSoValue data, US Bitcoin spot exchange-traded funds have attracted over $2 billion in recent weeks, continuing a record-breaking streak of 9 consecutive trading days of net inflows, the longest since 2026. This structural capital inflow offsets short-term downward pressure from the derivatives market, acting as a strong pillar supporting the price.

Market indicators and technical structure also support a positive trend. Bitcoin dominance (market cap share) currently remains stable at 59.94%, and the price is moving steadily above the 7-day simple moving average of $76,803 and the 30-day simple moving average of $72,043. Additionally, the 14-day Relative Strength Index (RSI) is at 62.68, indicating a neutral level without overheating, leaving room for further upside.

The short-term direction of the market depends on whether the $80,000 resistance level, which is the average purchase price of recent ETF entrants, is broken. According to Bitwise analysis, if buying pressure continues and $80,000 is successfully reclaimed, a new target price of $83,411, based on the Fibonacci extension, could be set. Conversely, if a correction occurs, the area between $76,000 and $77,000, where the 7-day simple moving average and the recent consolidation zone converge, is expected to act as a key support level.

Consequently, Bitcoin is currently undergoing an upwardly biased consolidation phase, supported by strong support levels. Experts predict that if fund inflows of $100 million to $300 million per day are consistently maintained, there will be sufficient momentum to break through the formidable $80,000 resistance wall and initiate the next bullish wave. However, there is also a risk of falling to $73,900 if the $76,000 support level collapses, so close attention should be paid to whether key price levels are breached.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*