Bitcoin Price Hits Pause at $80K Resistance as Mining Firms Pivot to AI
The Bitcoin price has paused at the $80,000 resistance level as traders locked in gains following its largest weekly advance in over three years.
The cryptocurrency traded near $78,300 in New York after briefly pushing past $81,000, and prices remain up about 22% since Treasury Secretary Scott Bessent announced plans to double purchases of outstanding long-term debt.
Despite the price pause, institutional demand provided ongoing support to BTC through traditional investment vehicles, with U.S.-listed spot Bitcoin ETFs recording $314 million in net inflows on Tuesday.
Meanwhile, major mining companies are shifting data center capacity toward artificial intelligence workloads, leveraging their power access and data center experience to secure long-term contracts with AI developers like Anthropic.