Analysis: Bitcoin has broken through the key resistance zone that was suppressing its price, and may maintain strong fluctuations in the short term

According to The Block, Bitcoin has broken through the $80,000 mark, rising approximately 2.6% in 24 hours to $80,150, driving the overall strength of the cryptocurrency market, with ETH up 3.6% and XRP up 2%.

Nick Ruck, a director at LVRG Research, stated that this breakthrough has broken through the key resistance zone that suppressed prices over the weekend, with short-term momentum clearly strengthening; Zeus Research analyst Dominick John pointed out that the upward trend is accompanied by technical short squeezes.

In terms of capital flow, the U.S. Bitcoin spot ETF has seen net inflows for the fifth consecutive week, attracting about $154 million last week, indicating that institutional allocation demand continues to strengthen. Analysts believe that if the trend of capital inflows continues and is compounded by macro uncertainty factors, Bitcoin may maintain strong fluctuations in the short term, with the market focusing on the impact of subsequent economic data and changes in risk sentiment on the trend.