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Crypto

Bitcoin Tops $80,000 for First Time Since May Amid Strong Institutional Momentum

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin has broken through the $80,000 barrier for the first time since May 15. According to @KobeissiLetter, this represents a +29% gain over seven days.

The move is consistent with broader BTC price prediction models that anticipated momentum from institutional flows in the prior quarter.

Currently, BTC trades at $80,839.01 within a bullish structure defined by the EMA50 and EMA200 indicators.

However, momentum indicators are flashing caution, with the RSI(14) at 77.01 and MACD printing a death cross at 1898.88.

The price is testing the upper Bollinger Band resistance at $79,934.17, while the lower band sits at $75,619.78.

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