On May 9, Bitcoin traded at $80,400, forming an ascending wedge on the daily chart; 85% of the gap on the Chicago Mercantile Exchange (CME) has been filled, and liquidation clusters have accumulated below the price, with analysts warning that FOMO-driven long positions may be the next target.
Bitcoin 4-hour chart: Rising wedge with a hidden trap below
The 4-hour chart shows that Bitcoin has been trading within a clear upward channel since approaching a low of around $65,000 in April, with the current price nearing the upper boundary near $82,000. The 20-day moving average is at $80,337, serving as the immediate support level, slightly below the current price. The Parabolic SAR indicator has remained bullish at $79,525, but momentum is gradually weakening as the price approaches the upper boundary.
Meanwhile, analyst CryptoJack notes that Bitcoin has filled 85% of the price gap at the Chicago Mercantile Exchange (CME), while a significant gap remains below, with liquidation clusters accumulating beneath the current price. Traders who chased prices above $80,000 due to fear of missing out (FOMO) now face risk if institutional investors decide to sell off before further price increases.
Bitcoin key levels:
Why JPMorgan's $30 billion forecast changed the demand landscape
JPMorgan analysts estimate that if the Strategy fund continues purchasing at its current rate, it could accumulate up to $30 billion in Bitcoin this year. The closest catalyst to reaching this target is STRC returning to par value. According to Street Wolf, this will automatically trigger billions of dollars in new purchases within days or weeks.
Michael Saylor commented on recent news reports regarding potential Bitcoin sales, noting that this is not a bearish trend but rather a liquidity management tool, and emphasized that any sales would be offset by larger net purchases during the same period. The core insight from Consensus 2026 is that Strategy’s capital structure, particularly the yield mechanism of STRC, enables it to continuously buy without regard to short-term price movements.
What does a $30 billion buyer mean for BTC's price structure?
At the current price of nearly $80,000, annual purchases of $30 billion equate to a sustained weekly demand of approximately $575 million. This consistent buying pressure does not guarantee a straight-line price increase, but it does establish a structural floor that makes significant price pullbacks difficult to sustain. As “WallStreetBets” noted at the Consensus conference, institutional investors are not focused on price—they are actively accumulating, and Strategy’s buying is the clearest manifestation of this trend.
The upcoming review of the Clear Act has added another layer of uncertainty. Polymarket’s prediction for the bill’s passage by 2026 has risen from 46% to 71% over eight days, reflecting growing confidence among consensus meeting participants, though some skepticism remains.