Bitcoin hits $80K

Bitcoin hits $80K

Market Overview

The crypto market capitalisation has risen by 1.4% over the past 24 hours and by roughly the same amount over the past 7 days, reaching $2.64T. At its peak at the start of the day, the market reached $2.67T, a level last seen in early February. A slow but steady recovery has been observed since early April, recouping half of the losses incurred during the just over one-week slump that began in late January. Over the past 24 hours, the leaders have been Dash (+30%), Basic Attention Token (+10.2%) and Zcash (+7.8%). Even the laggards are showing gains: TRUMP (+0.1%), Algorand (+0.6%) and Near (+0.5%).

Bitcoin slipped to $80.6K at the start of trading on Monday. We last saw such levels at the end of January. The rising price and the downward-sloping 200-day moving average are actively converging with an important long-term trend line at $83.6K. Consolidation above this level could further encourage traders, but we would prefer to see consolidation above $85K first, the former support zone from November to January.

News Background

According to SoSoValue, net inflows into spot BTC ETFs amounted to $153.9 million over the week. Over the past April, investors poured $1.97 billion into US Bitcoin ETFs, the highest figure since October 2025.

Inflows into US spot Ethereum ETFs halted after three weeks of inflows. Net outflows from ETH ETFs amounted to $82.5 million for the week. Over the past month, investors poured $356 million into US Ethereum ETFs.

Perpetual futures fuelled Bitcoin’s April rally, whilst spot demand remained in negative territory. This divergence points to the speculative nature of the movement, CryptoQuant notes.

Bitcoin’s market capitalisation could grow almost 11-fold by 2030, to $16 trillion, according to forecasts by ARK Invest. This will occur if cryptocurrencies evolve into an asset class present in investment portfolios worldwide.

Tesla CEO Elon Musk stated during legal proceedings against OpenAI that he considers most cryptocurrencies to be fraudulent schemes. Users criticised Musk for hypocrisy.

Tether has published its financial report for the first quarter of 2026, audited by BDO. The stablecoin issuer’s net profit stood at $1.04 billion. The company’s total assets reached $191.7 billion, with liabilities of $183.5 billion. Excess reserves rose to a record $8.23 billion.

The FxPro Analyst Team