Bitcoin briefly regained $80,000 on Monday, a threshold it had not touched since the end of January. This crossing comes after an increase of almost 12% in April and institutional demand which is not weakening. Is this the start of a lasting rally towards six figures?
In brief
- Bitcoin reached $80,515 on Monday morning before falling back below $80,000.
- The MSCI AC Asia Index hit a new record high of 245.2, a sign of positive global sentiment.
- US spot Bitcoin ETFs have seen net inflows in 11 of the last 14 sessions.
Bitcoin regains color
After an increase of 11.87% in April, its best monthly performance in a year, bitcoin extended its momentum Monday morning. The price rose from $78,415 to $80,515 between 1:25 a.m. and 4:20 a.m. UTC, according to data from Trading View. This crossing of $80,000 represented a peak not seen since January 31.
The move coincided with a 2.3% advance in the MSCI AC Asia index, which reached 245.2 on Monday morning. This level exceeds the previous record of 243.6 set on February 22, about a week before the start of the conflict between the United States and Iran. A rise in this index at the start of the week generally reflects a positive risk sentiment linked to the weekend's events.
However, bitcoin did not hold up. At the time of writing, the price is hovering around $79,700, back below the symbolic bar.
Strong institutional flows as a backdrop
Several catalysts support this bullish dynamic. U.S.-based spot Bitcoin ETFs have seen net inflows in 11 of the last 14 trading sessions. On Friday, the inflow reached $629.8 million, the industry's best day in two weeks.
On the regulatory front, banking and crypto players have notably found a compromise on the provisions relating to the yield of stablecoins within the framework of the CLARITY Act. The Senate plans to examine the text this month.
Ether,
The $100,000 mark in sight
THE back towards $80,000 marks a nearly 30% recovery from the yearly low of $62,000, reached on February 5. Several observers believe that a trajectory towards $100,000 remains possible.
Michael van de Poppe, founder of MN Trading Capital, said on Friday:
There is no need for a narrative that drives prices up. The story will create itself.
The sector is also monitoring announcements around the American strategic Bitcoin reserve. Patrick Witt, White House crypto advisor, spoke last week at the Bitcoin conference in Las Vegas about an “important announcement” coming in the coming weeks.
In short, at $80,000, bitcoin is not only rebounding, it is repositioning itself. Between institutional adoption, regulatory advances and potential government announcement, several signals are converging towards a return to $100,000. The market is starting to believe it.
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