Bitcoin has climbed more than 30% from its February lows and is pressing toward $80,000, turning sentiment sharply bullish across trading communities.
The crypto asset surged past the $79,000 zone, trading as high as $79,425 on Friday, amid bullish optimism.
Data from TradingView and CoinGlass confirms that at 14.3%, BTCUSD is on track for its best performance in nearly 18 months.
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In what has been a remarkable turnaround through April, despite geopolitical and macroeconomic uncertainty, Bitcoin is now attempting to break above its multi-month trading range.
Recall that when Bitcoin was at February lows, most traders were loudly calling for further crashes. Now that resistance is being approached, the same crowd has turned bullish.
CoinGlass data shows that if the monthly close matches current levels, the crypto asset will seal its most bullish month since November 2024. Currently, this year’s April gains are marginally above those of 2025, when Bitcoin finished 14.1% higher.
Amid BTC bullish price action, data from CoinmarketCap reveals that the sentiment in cryptocurrency trading had slid back to neutral from extreme fear.
As Cointelegraph continues to report, Bitcoin bulls still face a ladder of resistance levels around the $80,000 mark. Traders see a lengthy battle to regain control, while the Bitcoin bear market, by historical standards, should still be far from over.
“BTC Has been in an up trend during April. But it is coming up to some important high timeframe levels. Especially above the $80K area is where the bulls would need to push through to turn this around on the high timeframe,” Trader Daan Crypto Trades summarized on Thursday.
Despite the rebound, crypto analysts continue to flag critical resistance zones. Bitcoin is now pressing against the upper end of its multi-month range, with $80,000 emerging as a decisive level for the next move.
“On the downside, the immediate supports are that ~$72,000 region and $65,000 below that,” he added.
However, the path to a new all-time high remains narrow. Persistent energy-driven inflation continues to threaten the timeline for Federal Reserve rate cuts in late 2026.
For bulls to maintain control, Bitcoin must convincingly break and hold the $80,000 threshold, otherwise, a rejection at this multi-month resistance could see the price drift back toward immediate support in the $72,000 region.
Notably, data from SoSoValue, reveals that US-listed spot Bitcoin ETFs have extended their inflow streak to eight straight sessions, pulling in $223.21 million on Thursday alone and pushing the cumulative total to around $2.4 billion since April.
The latest run has already overtaken the previous seven-day streak in March, which brought in roughly $1.2 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) has accounted for more than 73% of the latest inflows, drawing about $1.4 billion during the streak. The fund now holds 809,870 BTC, representing 62% of total assets under management across US spot Bitcoin ETFs.
Outlook
Bitcoin’s near-term direction will likely be defined by its interaction with the $80,000 resistance level. A decisive breakout and sustained hold above this threshold could open the door to a rally toward the $90,000 region and potentially new highs.
However, rejection at this level may reinforce the current range-bound structure, with price consolidating or retracing toward lower support zones.
Market sentiment, ETF flows, and macroeconomic developments will remain critical drivers in determining whether the current bullish momentum can evolve into a broader, sustained uptrend