分析: Bitcoin has broken through the key resistance zone that was suppressing prices, and may maintain a strong consolidation in the short term

Odaily reported that Bitcoin has broken through the $80,000 mark, rising approximately 2.6% in the past 24 hours to $80,150, driving the overall crypto market higher. ETH rose 3.6%, and XRP rose 2%. Nick Ruck, Director of LVRG Research, stated that this breakout shattered the key resistance zone that had been suppressing prices over the weekend, with short-term momentum clearly turning bullish. Meanwhile, Dominick John, an analyst at Zeus Research, pointed out that the upward price movement was accompanied by a technical short squeeze.

In terms of capital flows, the US spot Bitcoin ETF has recorded net inflows for the fifth consecutive week, attracting approximately $154 million last week, indicating continuously strengthening institutional allocation demand. Analysts believe that if the capital inflow trend continues, coupled with the impact of macroeconomic uncertainties, Bitcoin may maintain a strong consolidation in the short term. The market will closely watch the influence of upcoming economic data and shifts in risk sentiment on the trend. (The Block)