The rally also coincided with renewed geopolitical tensions around a key global shipping route, adding uncertainty to broader market sentiment
Bitcoin News
Bitcoin rose above $80,000 late Sunday, leading a broader rally across major crypto assets as investors tracked the latest geopolitical developments. BTC gained 2.6% over 24 hours to $80,150 on Sunday. ETH added 3.6% to $2,382, and XRP gained 2% to $1.41.
Nick Ruck, director of LVRG Research, told The Block that BTC's move past $80,000 breaks through a resistance zone that had capped price action over the weekend. "The quick shift places near-term momentum firmly as bullish and confirms buyer strength after the earlier pullback," Ruck said. Dominick John, an analyst at Zeus Research, described the move as a technical short squeeze through a "major" psychological resistance zone.
The rally also coincided with renewed geopolitical tensions around a key global shipping route, adding uncertainty to broader market sentiment. Oil markets reflected the mixed signals, with international benchmark Brent crude futures climbing 0.26% to $108.49 per barrel, while WTI Crude edged down 0.12% to $101.84. Bitcoin
US spot BTC exchange-traded funds recorded a fifth consecutive week of inflows, totaling $153.87 million last week, according to SoSoValue data. Ruck said the sustained inflow streak signals growing institutional confidence in BTC as a strategic portfolio asset. BitcoinETF BTC
Looking ahead, Zeus Research analyst Dominick John said traders will be watching May 7 initial jobless claims for signals on labor market strength, geopolitical negotiation headlines for swings in risk sentiment, and ETF inflow data to assess whether institutional demand is building or leveling off. CryptoMarkets
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