Bitcoin Price Rises to $81k on Whale Accumulation, ETF Inflow
Bitcoin (BTC) price surged by about 3% to $81,007.13 on Tuesday, outpacing the broader market’s 2.2% gain, driven by renewed institutional ETF demand and a geopolitical relief rally.
BTC path is currently carved by institutional ETF flows and whale accumulation, pushing it toward key technical resistances, while lukewarm on-chain activity serves as a reminder that broader market participation is lagging.
Over the past 30 days, wallets holding over 1,000 BTC absorbed roughly 270,000 BTC. Concurrently, exchange reserves have plummeted to 2.21 million BTC, the lowest level in eight years.
This aggressive accumulation by large holders is significantly reducing the immediate supply available for sale on trading platforms. Also, U.S. spot Bitcoin ETFs recorded $532.21 million in net inflows on Monday, May 4, led by BlackRock’s IBIT with $335.49 million.
This marked the third consecutive day of inflows, reversing prior outflows and indicating renewed institutional buying pressure. The ETF channel is a primary driver of spot demand, directly absorbing supply and supporting higher prices.
A significant short squeeze amplified the move. Over 24 hours, $125.82 million in BTC short positions were liquidated as price broke above $80K.
The rally was also fueled by improved risk sentiment following a U.S.-Iran ceasefire, as analysts noted. This suggests leveraged traders betting against BTC were forced to buy back, creating upward momentum. Macro de-escalation provided a tailwind.
Technically, Bitcoin faces immediate resistance at the 200-day Exponential Moving Average near $82,024. A daily close above this level could open a path toward the $84,586 Fibonacci extension.
Critical support is the recent breakout zone between $77,000–$78,000. The macro picture will be influenced by upcoming U.S. Non-Farm Payrolls data and Federal Reserve commentary, which could sway risk appetite.
The structure is bullish but testing a major trend indicator. Macro events are now co-driving price action alongside crypto-specific flows. Bitcoin’s rally is supported by concrete institutional buying via ETFs, amplified by a liquidation cascade. The ability to hold above $80,000 is key for continuation.
