Bitcoin Faces Crucial Test at $82K Resistance Amid Strong ETF Demand
Bitcoin is facing a crucial test as it inches closer to the $82,000 resistance level. The cryptocurrency has been trading above $79,000 after US spot ETFs saw their second-largest daily inflows of the year, with $730.9 million pouring in last week.
The CryptoRus market letter framed this week as a bullish test rather than a completed breakout. According to the report, there are three key signals behind the current setup: institutional buying, a leverage reset, and Zcash's parabolic move.
While institutional demand is strong, Bitcoin has not yet cleared the $82,000 hurdle. A four-hour close above this level followed by a successful retest would provide stronger confirmation of a breakout. On the other hand, losing $79,000 would weaken the immediate bullish case and put the liquidity area around $78,000 back in focus.