Bitcoin Breaks Above $80,000 Amid ETF Inflows

Bitcoin broke above $80,000 for the first time since May, reaching an intraday high of $81,255. This milestone marks a 25% increase in price over the past week, with daily and weekly gains of 0.17% and 25%, respectively.

The upward momentum can be attributed to strong inflows into spot ETFs, particularly BlackRock's iShares Bitcoin Trust, as well as Bitcoin reclaiming its 200-day EMA. This technical indicator signals a bullish medium-term trend.

Key resistance zones lie at $82,000-$82,500, with potential targets up to $88,000. On the other hand, support levels include $78,670 and the 200-day EMA at $71,841.

While selected altcoins like Solana and XRP are outperforming, a full altseason has yet to materialize.