Bitcoin Price Stalls Near $80k Amid Whales' Buying Spree
Bitcoin's price recovery has stalled near $80,000 as institutional demand strengthens. Despite this, the cryptocurrency is trading in the green, holding above $78,000. The influx of funds from BlackRock's tax-deferred Bitcoin-to-ETF swap volume reaching $5 billion is contributing to the increased buying activity.
On-chain data suggests that large-wallet investors, or 'whales', are accumulating more BTC, indicating a potential shift in market sentiment. This trend could be a sign of growing confidence among institutional investors and may lead to further price gains.
Hyperliquid (HYPE) is also experiencing increased demand, with bulls aiming to push the price above $83.30 and set a new record high. The 'Everything Exchange' is attracting both institutional and user interest, with ETFs recording daily inflows of over $5 million in each of the last two days.
Crypto markets are broadly consolidating ahead of what may be another breakout attempt by Bitcoin to reclaim $80,000 and push beyond the supply zone at $82,500. Ethereum (ETH) is also holding above $2,400 and building momentum for a potential breakout past $2,600.