Overview
- Bitcoin, which jumped to an intraday high near $80,529 on Monday, advanced after President Trump announced “Project Freedom” to guide neutral ships through the Strait of Hormuz.
- U.S. spot Bitcoin ETFs — funds that buy and hold the token — recorded a fifth straight week of net inflows at about $153.87 million, with roughly $630 million reported on Friday, adding a steady source of demand.
- Derivatives data showed a short squeeze, with more than $300 million in crypto positions liquidated over 24 hours and about $160 million tied to Bitcoin shorts as prices pushed through resistance.
- Analysts flagged heavy resting orders between $79,500 and $81,000 and noted recent extreme funding swings — the fees futures traders pay each other — which make the breakout prone to sharp pullbacks if buying slows.
- Traders now watch this week’s U.S. jobless claims, Strategy’s earnings, and the Consensus conference, along with Middle East headlines that keep oil elevated, for signs of whether $80,000 can hold.