Bitcoin Consolidates Around $77,000 as Breakout Past $80,000 Looms

Bitcoin is consolidating around $77,000 as it builds a base for a potential breakout past $80,000. The cryptocurrency has undergone a short-term cooldown after surging more than 23% last week.

Market participants see a stronger case for an $80,000 breakout if support forms around $75,000. Institutional inflows through spot ETFs have been notable, with U.S. Bitcoin and Ethereum spot ETFs seeing combined net inflows of $2.6 billion over the prior week.

The trigger for this rally was expectations for the institutionalization of the U.S. crypto market under the CLARITY Act. President Donald Trump urged swift passage of the act, saying 'Congress must pass the CLARITY Act and move to the next step.'