Bitcoin holds $81K as Strategy buys 535 BTC; ETP inflows rise
Bitcoin is holding near $81K as accumulation headlines return. Strategy’s executive chairman Michael Saylor rejected fears the firm will become a meaningful Bitcoin seller, reiterating “never be a net seller” even if dividends are funded by BTC sales. Strategy then resumed buying: it purchased 535 BTC for about $43M from May 4–May 10, averaging near $80,340.
Technically, Bitcoin is still below the 200-day EMA around $82,039, but buyers are defending the $81,500 area. Traders want a daily close above the $84,000 region to confirm continuation. Key levels cited: resistance around $82,876 (then $84,595 and $89,065) and support around $81,580 (then $80,330 and $78,860). Indicators in the article also turn constructive, with RSI near 66 and MVRV described as approaching a bullish “golden cross.”
Flows add support for the bid. Crypto investment products pulled in $858M, extending a six-week net inflow streak to about $4.9B, led by Bitcoin-focused vehicles taking over $700M. By contrast, Short-BTC ETF products saw the largest annual outflow ($14M), suggesting reduced bearish positioning.
Regulatory tone improved after the U.S. Senate Banking Committee set May 14 for the markup of the Digital Asset Market Clarity Act, with compromise language easing key stablecoin-yield concerns.
For traders, the setup remains constructive but not confirmed until Bitcoin breaks and holds above roughly $82,876–$84,000.
Bullish
This news combines three trader-relevant bullish elements for Bitcoin. First, Strategy’s renewed net-buy rhythm (535 BTC for ~$43M) and Saylor’s “never be a net seller” message reduce the near-term risk of large BTC supply hitting the market. Second, ETF/ETP flows are supportive: $858M net inflows and a six-week streak near $4.9B, with Bitcoin-focused products leading, typically strengthens demand and can help price reclaim key moving-average resistance. Third, the regulatory backdrop has marginally improved with the May 14 markup date for the Digital Asset Market Clarity Act and a compromise on stablecoin-yield language, which can reduce headline risk.
However, the article still notes Bitcoin is below the 200-day EMA (~$82,039), so confirmation depends on price action. That’s why the bias is bullish but conditional: a daily close above roughly $82,876–$84,000 is likely to trigger momentum, while failure and sustained trade below key support ($80,330 area) would weaken the bullish setup. Long-term, if accumulation + positive flows persist, the “golden cross” framing (MVRV) could align with a broader macro reversal; short-term, traders should respect the stated levels and wait for breakout confirmation.