Just punched through $79,000 and printed a monthly high of $79,472 before cooling to the $77.3K-$78.1K zone. Current price: $77,828with an intraday high of $79,485.66.
The $77.4K level is no longer resistance. BTC tested $79 pulled back and is now holding above $77.4K. As Michael van de Poppe put it: as long as $75K support holds BTC targets *$85K-$88K in 1-2 weeks.
Why This Move Matters
1. Structure Flip
Key resistance cracked: $79K was the “signal line” ceiling on the weekly that bears defended since October. We’re testing it with intent.
Support stack: $72K-$73K cluster, deeper Fib support at $68K-$70K. $77.4K now becomes the line in the sand for bulls. 2c5ed746
2. Flows + Liquidity
ETF inflows: 8 straight days, $223M on Apr 23 alone, led by BlackRock’s IBIT. Spot Bitcoin ETFs added $335M+ last week.
Whales accumulating: Wallets with 10-10,000 BTC added ∼41,000 BTC since Apr 10. Strategy bought 34,164 BTC for $2.54B, now holds 815,061 BTC.
Exchange reserves near ATLs: Scarcity amplifies buying pressure, low intent to sell. b5c822e181e9
3. Derivatives Setup
Short squeeze fuel: $1.54B in short liquidations stacked up to $81K. $879M in longs sit at $76,829 - that’s the magnet if we lose $77.4K.
OI rising: Total open interest +6.7% in 24h to 260,000 BTC. Futures OI jumped 9% to $62B.
Funding negative: -0.0092% while OI climbs to $60.54B = shorts piling in as price holds. Classic squeeze setup. 9cf124d6c88898fa
4. Macro Tailwinds
Stablecoin dry powder: USDT supply ∼$150B, +$5B in 2 weeks. Capital waiting on sidelines.
Risk-on mood: S&P 500 + Nasdaq back near ATHs. Markets “stopped caring” about Middle East headlines per Wintermute OTC.
Best April in a year: BTC +13.6% MTD, ending longest losing streak since 2018.BTCSurpasses$79K
