Key insights:
- Bitcoin spot ETFs recorded $532.3M net inflows on May 4 across major issuers.
- BlackRock purchased over $335M worth of Bitcoin through client allocations.
- Weekly MACD crossover in April supports ongoing medium-term price strength.
- Price tests the $83,000 level as traders watch resistance and liquidity zones.
The token price continues to trade above the $80,000 level as market activity remains strong. As of press time, the token price stands at $80,830.06 USD, with a 24-hour trading volume of $47,508,132,347 USD. While Bitcoin has risen 1.42% over the past 24 hours.
Bitcoin Holds Above $80,000 as Technical Signals Align
Bitcoin trades above the $80,000 level as market activity stays strong across global exchanges. Market data shows active participation from both institutional and retail segments. Trading volumes also stayed elevated across major exchanges. Market analysts track a weekly technical signal that appeared on April 13. This signal often links with extended upward price movements.
At the same time, price action shows steady gains since the crossover event. A market update from traders shows Bitcoin gaining around 15% after the signal. The asset now approaches a key zone near $83,000. This level aligns with a long-term moving average used by traders for trend tracking.
Ali Charts noted that past similar signals in 2023 and 2024 led to strong multi-month moves. These included gains of 147% and 75% in separate cycles. The current setup continues to draw attention from market participants.
Spot ETF Inflows Rise as Institutional Demand Increases
Spot Bitcoin exchange-traded funds recorded strong inflows on May 4. Data shows net inflows of $532.3 million across multiple funds. This reflects continued interest from large investors in regulated Bitcoin exposure.
BlackRock clients contributed a large portion of the inflows. Reports show purchases reaching $335.5 million in the token exposure through ETF products. These flows add to previous accumulation trends seen in recent weeks.
A market update from DustyBC Crypto stated that Bitcoin ETF demand remains active. The report added that daily trading activity stayed above $47 billion. It also noted that price movements remained steady during high-volume sessions.
The token traded around $80,830 during the reported period. The asset showed a 1.42% rise over the past 24 hours. Market participants continue to monitor inflows alongside price action near resistance zones.
