Overview
- Bitcoin kept support near $80,000 on Tuesday after U.S. inflation rose faster than forecast, with core prices up 0.4% in April and headline CPI at 3.8% year over year.
- Traders are watching resistance around $82,000 to $83,000 near the 200-day moving average, and a daily close above that zone could unlock a run toward $85,000 to $90,000.
- Recent gains have leaned on a short squeeze and larger outstanding futures bets while spot trading has been thin, and data showed over 108,000 traders liquidated about $323 million in the past day even as spot bitcoin ETFs took in a modest $27 million.
- On-chain signals point to an early-bull phase, with CryptoQuant’s cycle gauge turning green, yet realized capital inflows just ticked positive at roughly +0.008%, which is far smaller than past expansion waves.
- Macro shocks continue to sway crypto, with oil and the dollar climbing on U.S.–Iran tensions, though structural demand from U.S. spot ETFs and large corporate holdings has reduced the supply available to trade.