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Bitcoin trades above $80,000 after a short rally to $82,000, but buyers have not yet confirmed a clear breakout. The move followed the Senate Banking Committee’s advancement of the CLARITY Act, which gave the market a short boost.
However, the rally slowed near a major resistance zone. Analysts said Bitcoin must hold above $82,000 and attract stronger institutional demand before a wider recovery can continue.
Bitcoin tested the $82,000 level after the CLARITY Act vote, but sellers pushed the price lower soon after. The zone has rejected Bitcoin since last week, making it a key level for traders.
The $82,000 area also carries technical weight. The 200-day simple moving average and the 200-day exponential moving average are close to this level. Therefore, a clear move above it could give bulls more control.
Analyst Sykodelic said Bitcoin must break and hold the level to continue higher. “If Bitcoin is going to go higher, it should really break above the 200 EMA now at $82,000 and hold it,” the analyst said.
However, the analyst also raised doubt over the rally. “Reject again here and I think we will get a deeper retrace, $74k - $77k levels,” Sykodelic added.
Market data showed Bitcoin has traded below the key moving averages since October 2025. Galaxy Trading analysts said a move above them would offer another bullish confirmation.
The last strong break above these moving averages came in April 2025. That move later led to a 48.5% rally toward Bitcoin’s current record high of $126,000.
Still, overhead supply remains a challenge. Glassnode data showed a large cost-basis cluster between $84,000 and $85,400. Investors bought about 1.05 million BTC in that range.
Analyst Sherlock called the area ‘one of the biggest supply clusters’ that Bitcoin must absorb before moving higher. This means buyers may need strong volume to clear the zone.
Spot Bitcoin ETF flows remain another major factor for Bitcoin’s next move. Institutional demand has weakened after a strong run of inflows.
SoSo value data showed spot Bitcoin ETFs ended a five-day inflow streak worth nearly $1.7 billion with $269 million in outflows on May 7. The outflows came as Bitcoin dropped below $80,000.
The selling continued this week. Spot Bitcoin ETFs recorded $635 million in outflows on Wednesday, marking the largest withdrawal since late January.
Glassnode said stronger ETF demand could support another move higher. “If sustained, continued institutional accumulation could provide the demand base required for Bitcoin to challenge higher overhead supply zones in the weeks ahead,” the firm said.
Bitcoin’s weekly close may guide the next market direction for the crypto asset's momentum. Traders are watching whether Bitcoin can hold the $80,600 level as support before the week ends.
A weekly close above $80,600 could keep the price pointed toward the $90,000 resistance zone. A stronger close above $82,000 to $84,000 may also open the way for a wider recovery.
However, a close below $80,600 could shift attention to $78,700. This level remains a nearby support area and could still keep buyers active.
If Bitcoin closes below both levels, the price may return to weaker zones. Analysts said a move toward the lower bear-flag area and the $66,000 support could follow. For now, Bitcoin remains above $80,000, but traders are waiting for stronger confirmation.
Also Read: Bitcoin Price Analysis: Will BTC Surge Past $80K With ETF Inflows Worth Billions?
