Bitcoin Cracks $81,000 Barrier Amid Renewed Buying Pressure

Bitcoin has broken above the $81,000 mark, reaching a price of $81,035.97 on the Binance USDT market.

The move is attributed to renewed buying pressure and improved sentiment in global markets, with trading volumes on major exchanges increasing by 12% over the past week.

Institutional inflows into spot Bitcoin exchange-traded funds (ETFs) have also been a contributing factor, with U.S. spot BTC ETFs recording net inflows of $215 million over the past three sessions.

From a technical perspective, Bitcoin is now within striking distance of its next resistance zone at $82,500, $83,000, while support lies at $79,800 and $78,500, the latter aligning with the 50-day moving average.