$BTC (-0,08%) moved in a narrow trading range between 80,000 and 82,500 US dollars last week. Four important reference levels are close to the current price and can be clearly divided into resistance and support zones.

Above the current price, two levels act as resistance. The 200-day average is around USD 82,500. The average entry price for investors in US spot$BTC (-0,08%)-ETFs is around USD 83,000, reflecting the strong inflows of the past year. Together, these levels form a zone in which investors waiting for the break-even point tend to sell.

Below the current price, two other levels act as support. The "true market mean", i.e. the average purchase price of on-chain holders, is USD 78,200. Strategy, the world's largest on-chain holder of #bitcoinhas an average purchase price of USD 75,500. A break below one of these levels would put these market participants in the red.

For the bulls, a clear weekly close above USD 83,000 would bring ETF investors back into the profit zone and improve momentum. A clear rejection below USD 78,000, on the other hand, could trigger further selling pressure. Until one side breaks out, the trading range will remain.

$BITC (-2,29%)

Investment products for digital assets recorded inflows of USD 857.9 million - the sixth consecutive positive week and the highest weekly volume since April 24. This likely reflects the improved sentiment around the CLARITY Act after Senators Tillis and Alsobrooks released the final compromise text on the stablecoin interest rate on May 1 and stood their ground against opposition from the banking industry on May 4. $BTC (-0,08%) The price of the stablecoin rose above the USD 80,000 mark on Monday, reaching its highest level since the correction in February. The Senate Banking Committee is expected to discuss the issue next week. Total assets under management rose to 160 billion US dollars.

$BITC (-2,29%)

$BTC (-0,08%) has recaptured the USD 80,000 mark. This is important from a chart perspective, as the market has failed to reach this level several times since the end of January.

However, the rise does not look like a broad retail euphoria. The movement is being driven primarily by institutional inflows: spot Bitcoin ETFs collected around USD 2.9 billion in April, with a further USD 2 billion added in May.

The tailwind is coming from several directions: lower oil prices, somewhat less geopolitical risks, a weaker dollar, ETF demand and further purchases by large Bitcoin addresses. At the same time, caution remains appropriate. Inflation is stubborn, the US Federal Reserve has little room to cut interest rates, and regulatory progress is more likely to help Ethereum, stablecoins and DeFi than Bitcoin itself.

Conclusion: The medium-term outlook remains constructive. But this market continues to be heavily driven by liquidity, ETF flows and macro data - not a clean new crypto euphoria.

$BITC (-2,29%)

$BTC (-0,08%)
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$BTC (-0,08%)
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Investment products for digital assets register inflows of USD 1.2 billion, the fourth positive week in a row. This presumably reflects increasing institutional demand, against the backdrop that $BTC (-0,08%) trading at its highest level since the beginning of February. The market is now looking ahead to the FOMC decision on April 28-29, which is likely to contribute to some caution. Total assets under management (AuM) rise to USD 155 billion, the highest level since February 1, but still well below the peak of USD 263 billion in October 2025.

You can invest in Bitcoin via the following vehicle: $BITC (-2,29%)

$BTC (-0,08%) continues to hold its own as a surprisingly robust crisis winner. Since the escalation in Iran at the end of February, the cryptocurrency has risen by around 23%, while stock markets fell and $GOLD and trended significantly weaker. Bitcoin gained a further 4.5% this week alone.

Institutional investors also remain committed: Products for digital assets recently attracted around one billion US dollars in fresh capital. Blockchain shares are also in particularly high demand, with record inflows this month.

Additional tailwinds could come from the USA. The focus there is on the Clarity Act, which is intended to provide clear rules for the crypto market. If passed, it would make it easier for banks and large investors in particular to enter the market. (Author James Butterfill, CoinShares' Head of Research)

$BITC (-2,29%)

Today, institutional capital inflows are primarily focused on two channels: Inflows into US spot ETFs and purchases through digital asset treasuries (DATs). The latter - such as Strategy - pursue the goal of accumulating as many $BTC (-0,08%) possible without the intention of selling. As long as they are not forced to sell positions, these holdings are effectively considered to be withdrawn from the market.

With ETFs, inflows and outflows are basically possible in both directions. In the current environment of increasing adoption, however, the buy side clearly dominates. More and more financial advisors are only now beginning to offer their clients corresponding products. At the same time, large financial institutions continue to launch new #bitcoin-ETFs to the market, most recently Morgan Stanley.

The development shows: If you add up the demand from ETFs and DATs, it already significantly exceeds the amount of new $BTC (-0,08%)that come onto the market every day through mining. In addition, every four years or so, halving halves the number of new $BTC (-0,08%).

ETFs and DATs together currently only account for around eleven percent of the total $BTC (-0,08%)-supply. If this trend continues, an increasing imbalance between supply and demand seems likely - with the corresponding potential for prices to rise significantly.

You can invest in Bitcoin via the following vehicle: $BITC (-2,29%)

Digital asset investment products saw inflows of USD 1.4 billion, the highest weekly figure since January and the third consecutive week of positive inflows. This reflects a continued recovery in risk appetite, buoyed by talks to extend the ceasefire between the United States and Iran and boosted by the mid-week rise of $BTC (-0,08%) over USD 76,000 in the middle of the week - the highest level since the price slump in February. Inflation data for March (consumer price index, CPI) stands at 3.3% year-on-year and is largely ignored by the market. Core inflation remains moderate at 2.6% and points to a supply-driven rather than a broad-based inflationary impulse.

You can invest in Bitcoin via the following vehicle: $BITC (-2,29%)

$BTC (-0,08%) is currently showing remarkable strength. Since the start of the Iran crisis, the cryptocurrency has gained around 18.8%, while many stock markets have fallen and gold has lost around 7.4%. This means that #bitcoin is performing significantly better than many traditional asset classes in a geopolitically tense environment.

The market picture is also brightening internally. Large investors, so-called whales, are buying bitcoin on a net basis again for the first time since the fall. Institutional investors are also increasingly buying again: digital investment products recently recorded inflows for the third week in a row. If this momentum continues, Bitcoin could be on the verge of another dynamic upward movement. (A market update from CoinShares' Head of Research, James Butterfill)

$BITC (-2,29%)

A proposal, $BTC (-0,08%) for toll payments in the Strait of Hormuz is less a practical payment innovation than a geopolitical signal that shows how sanctioned states could $BTC (-0,08%) could test as a censorship-resistant settlement layer and alternative infrastructure outside the dollar system.

At its core, this is not about #bitcoin as a day-to-day payment system, but about increasing monetary fragmentation: while this may increase the relevance of $BTC (-0,08%) in sanctioned or fragmented systems, it also reinforces regulatory concerns about potential circumvention use.

In the long term, the idea of a "$BTC (-0,08%)-economy" remains limited; it is more likely to be $BTC (-0,08%) as a reserve-based or intermediary settlement layer in a parallel financial system - not as a direct unit of account for critical trade flows.

$BITC (-2,29%)