Bitcoin Price Eyes $83K as ETF Demand and U.S. Policy Drive Rally

Bitcoin's price has reached nearly $80,000 after gaining around 25% from its mid-August consolidation range. This rapid breakout was fueled by ETF demand and U.S. policy developments, with the Treasury announcing increased liquidity-support buybacks and the CLARITY Act gaining traction in Congress.

The daily RSI has reached 81.14, placing BTC firmly in overbought territory, but technical indicators show that momentum may be stretched. The 4-hour Supertrend remains bullish, while MACD shows fading short-term momentum.

Liquidity clusters near $81,000 and $77,500 could shape Bitcoin's next move, with a close above $80,500 allowing buyers to challenge the recent high around $81,200. A weekly close above the 365-day moving average near $83,000 would provide a stronger long-term confirmation.