"Bitcoin's upside remains conditional despite strengthening fundamentals, as a confirmed breakout still depends on whether BTC can clear the technical threshold of $82,000 and withstand macro pressure."
"Institutional flows have supported price stability, with April exchange-traded fund inflows totaling $2.6 billion, led primarily by Blackrock's IBIT, but momentum weakened toward the month-end."
"The store of value narrative took a hit earlier this year when BTC sold off alongside everything else, and that correlation has not been broken, limiting Bitcoin's independent upside."
Bitcoin is trading near $81,000, approaching a critical resistance level at $82,000. Despite positive on-chain data and significant ETF inflows of $2.6 billion, a confirmed breakout remains elusive. The market's direction is heavily influenced by macroeconomic factors, including geopolitics and energy markets. Recent outflows of $491 million indicate weakening demand, suggesting that Bitcoin's price stability is sensitive to higher levels. The correlation between Bitcoin and broader market movements has not been broken, impacting its store of value narrative.
Read at news.bitcoin.com
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