Bitcoin is approaching the $80,000 mark as rising investments in ETFs fuel momentum, though the risk of profit-taking is also increasing.
Strong inflows into U.S. spot Bitcoin ETFs, along with continued accumulation by strategic investors, have reinforced optimism that Bitcoin could reclaim the $80,000 level.
Data from CryptoQuant indicates that ETF investors and short-term large holders are nearing their break-even prices, which raises the likelihood of selling pressure as Bitcoin approaches these levels.
Gab Selby of CF Benchmarks noted that Bitcoin could reach $80,000 within days, but failure to break past $88,000 may trigger a fresh phase of consolidation.