Bitcoin clings near $78K threshold
- Bitcoin traded near $77,800 on Monday, April 27, after failing again at $80,000 as oil prices jumped and crypto markets turned lower. - CoinDesk said Bitcoin reversed from about $79,500 and fell roughly 2%; Cointelegraph said bulls still need multiple closes above $80,000 to confirm trend change. - April inflows and Strategy buying have steadied sentiment, but traders still treat $80,000 as the line to clear. (cointelegraph.com)
Bitcoin spent Monday, April 27, pinned just under $78,000 after another failed run at $80,000. (coindesk.com) (finance.yahoo.com) CoinDesk reported BTC rose toward $79,500 early Monday, then reversed as oil surged and traders sold risk assets across crypto. (coindesk.com) By late morning UTC, Yahoo Finance showed BTC-USD at $77,856.29, down 0.34% on the session. CoinMarketCap showed Bitcoin around $77,515 with a 24-hour high near $77,883. (finance.yahoo.com) (coinmarketcap.com) The fight is now over one round number: $80,000. Cointelegraph said analysts want consecutive daily closes above roughly $80,000 to $83,000 before calling this a durable trend reversal. (cointelegraph.com) That caution follows a rough stretch earlier this year. Cointelegraph reported on April 1 that Bitcoin had just ended a five-month losing streak with a March close near $68,000. (cointelegraph.com) The bullish case rests on fresh institutional demand. Cointelegraph said spot Bitcoin exchange-traded funds pulled in $2.03 billion in April, while Strategy bought 34,164 BTC for about $2.54 billion. (cointelegraph.com) (strategy.com) Strategy said that April 20 purchase lifted its holdings to 815,061 BTC. The company’s purchase log lists an average acquisition price of $74,395 for that latest buy. (strategy.com 1) (strategy.com 2) The bearish case is simpler: every push toward $80,000 has attracted sellers. CoinDesk described Bitcoin as stalled below that level even with stablecoin liquidity, exchange-traded fund demand and stronger equities in the background. (coindesk.com) For now, Bitcoin is holding close enough to $78,000 to keep breakout hopes alive, but not cleanly enough to settle the argument. (coindesk.com) (cointelegraph.com)
