Bitcoin (BTC<\/a>) traded near $81,025 on May 5 after rising 1.56% in the latest session.\u00a0<\/strong><\/p>\n \n Summary<\/span>\n <\/p>\n <\/p>\n The asset also recorded an intraday high near $81,204, while trading volume stayed elevated as buyers returned above the $80,000 zone.<\/p>\n The move followed a sharp market reaction<\/a> to Middle East headlines and renewed demand through U.S. spot Bitcoin ETFs. Bitcoin\u2019s rebound placed the market back near a key technical area watched by traders after several weeks of recovery.<\/p>\n <\/p>\n Well-known crypto analyst Ali Martinez asked, \u201cIs Bitcoin heading to $100,000?\u201d He said<\/a> Bitcoin has shown structural strength since a bullish MACD crossover appeared on the weekly chart on April 13. Since then, BTC has gained about 15%.<\/p>\n Ali Martinez said similar weekly MACD crossovers preceded earlier multi-month moves. He cited a 147% rally after Oct. 23, 2023, a 75% rally after Oct. 14, 2024, and a 35% rally after May 5, 2025.<\/p>\n On the daily chart, Ali placed the 200-day simple moving average near $83,000. He described that area as the main psychological and structural barrier. A daily close above it could open a path toward $89,000, with $94,000 as the next target.<\/p>\n Spot Bitcoin ETFs added fresh support to the rally. SoSoValue data showed<\/a> U.S. spot Bitcoin ETFs drew $532 million in net inflows on May 4, after $630 million on May 1. The two sessions brought about $1.16 billion into the products.<\/p>\n ETF demand also suggests that many buyers are entering Bitcoin through regulated market products rather than direct on-chain transfers. Bitcoin\u2019s market dominance also rose above 60%, showing that capital continued to favor BTC over many altcoins during the move.<\/p>\n Ali Charts also reported<\/a> that whales bought 4,527 BTC in 24 hours, worth about $362 million. That activity points to large-holder demand even as broader network use remains weak.<\/p>\n Santiment data showed Bitcoin\u2019s on-chain activity dropped to two-year lows while BTC moved back above $80,000. About 531,000 Bitcoin wallets made daily transfers, while roughly 203,000 new wallets were created each day.<\/p>\n That creates a mixed setup for the market. Price has risen while fewer users are active on-chain, meaning the rally may depend more on whales, ETFs and derivatives activity than broad retail participation.<\/p>\n Short liquidations also helped the move. Market data cited by traders showed about $270 million in short positions were cleared as BTC moved higher. Better miner returns also reduced near-term selling pressure, with daily mining revenue per petahash rising to its highest level since late January.<\/p>\n Finally, Macro conditions also shifted after the U.S. launched Project Freedom to guide ships through the Strait of Hormuz. Reuters reported<\/a> that the operation followed weeks of tension around the shipping route, which remains central to global oil flows.<\/p>\n <\/p>\n\n
Analyst watches $83,000 resistance<\/strong><\/h2>\n
ETF inflows support Bitcoin demand<\/strong><\/h2>\n
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Network activity sends mixed signal<\/strong><\/h2>\n