According to reports, Bitcoin has once again tested the $80,000 level. Corbeix's letter After briefly breaking above this level, Bitcoin retreated to around $79,000. This is the first time in several weeks that Bitcoin has reached this area, making it a key psychological and technical level.
This move is supported by strong fundamentals: spot ETFs saw nearly $600 million in daily inflows, while whales accumulated approximately 270,000 BTC over the past 30 days—the largest single-day buying pressure since 2013. Meanwhile, exchange reserves have dropped to their lowest level in seven years, as demand rises and supply tightens.
$80,000 resistance level and short-term squeeze
$80,000 is not just a number—it’s a significant resistance level. A large concentration of leveraged short positions is clustered at this price, making it a key battleground between bulls and bears.
Over the past 24 hours, more than $250 million in short positions have been liquidated, with $150 million liquidated within just one hour, indicating that a short squeeze has begun.
If the daily closing price exceeds $80,000, increasing momentum from additional short positions being closed out could push prices rapidly into the $84,000–$88,000 range. However, failure to break above this level could lead to a significant price decline, with analysts warning that prices may fall toward $66,000.
Analysts have differing views on market direction.
Analysts are divided on whether this is the beginning of a breakout or merely a temporary rebound.
DonAlt highlighted key market sentiment levels, saying, "Above 78,000, people begin to cautiously bullish, but above 87,000 is the critical threshold for the bull market to fully accelerate." He also warned, "Below 70,000, the market is likely to collapse," pointing to the fragility of market structure.
Option C takes a more optimistic stance and states:
Once the price of Bitcoin stabilizes above $80,000... many people will start buying again, pushing the price toward $90,000, and then the rebound will drive it back to $100,000.
From a technical perspective, the outlook remains mixed.
Aaron Dishnay reported that Bitcoin has "strong technical bullish momentum in the short term," but also warned that "volume remains weak and the RSI continues to hit new highs," suggesting this rally may lack the momentum for a sustained breakout.
Meanwhile, Dark Forest explained that Bitcoin is still in a consolidation phase, trading below the 200-day moving average near $82,000. He expects price movement toward $87,000 driven by short positions, but added, “A true trend reversal may require a weekly close above $93,500.”
What’s next?
The momentum pushing Bitcoin toward $80,000 comes from strong ETF inflows, active accumulation by whales, and escalating short squeezes.
If the resistance level is broken, Bitcoin's price could surge rapidly to $87,000–$100,000. However, if it fails to break through, the market could experience a sharp decline, making this level one of the most critical for Bitcoin right now.