A note Bitcoin Faces Key $80K Resistance as ETF Inflows and Whale Buying Rise appeared for the first time Coinpedia Fintech News
Bitcoin briefly touched $80,000 for the first time in weeks before returning to close to $79,000, setting up a major market war. The place Bitcoin ETFs attracted $600 million in inflows on May 1, while the whales collected 270,000 BTC in the last month – the biggest buying spree since 2013. Meanwhile, the exchange rate fell to a seven-year low, tightening the available supply. A break above $80K could quickly push BTC to the $84K-$88K range, while another rejection could lead to a deeper correction to $66K.
