BTC don rally reach $80,500; traders dey watch $81,486 daily close for breakout
Bitcoin (BTC) jump reach around $80,500 on May 6, di highest level for three months, end long sideways run. Di move don push BTC back inside one important short-term holders cost basis zone, where dem average losses don shrink to about 2%.
Traders now dey eye $81,486 as next major resistance and psychological trigger. Analysts talk say daily close above about $81,500 na di key confirmation. If BTC clear dat level, short-term investors fit rotate back to profit, wey fit reduce near-term sell pressure.
On-chain signals still dey support BTC continuation: SOPR rise from 0.99 to 1.097, mean coins dey spent at profit again. Exchange inflows also cool down sharply after spike, deposits fall from about 35,649 BTC (Apr 24) to 3,895 BTC (May 3). Net exchange inflows near flat between May 1 and May 3, while exchange reserves increase week-over-week to about 2,685,541 BTC—still something to monitor if demand weaken.
Key trading levels: support near $80,000 and liquidity/price test area around $79,600. If BTC break below $80,000, attention fit shift to newer investor cost basis near $76,500, increase risk of failed breakout. Meanwhile, long-term holders still dey in profit (~27%) and dem no dey rush to sell.
Bullish
BTC don reclaim one key short-term cost band and e dey press into one well-defined resistance for $81,486. The trigger clear (one daily close near $81,500), wey likely go shift short-term holders back into profit and reduce sell pressure. Supporting signals dey align: SOPR dey above 1 (people dey spend at a profit), exchange inflows don cool down after one earlier spike, and net exchange flows nearly flat while price dey hold. But since exchange reserves dey rise, traders still suppose dey watch for demand to weaken; if price break down under $80,000 e go raise chance say e go move toward a newer investor cost basis near $76,500 and fit invalidate the breakout.