Bitcoin breaks $80000, analysts have different views on the sustainability of the upward trend

Bitcoin recently broke through $80000 and hit $87300. Analysts believe that this round of rise is supported by institutional funds and spot ETF inflows, but there are differences in trading volume, market breadth, and derivative position indicators indicating the sustainability of the upward trend. K33 indicates that the current cycle low point may have been established, and there is still room for Bitcoin to catch up with gold and the US stock market. 21Shares believes that the introduction of innovation exemptions by the US SEC and the promotion of rule making by the CFTC provide regulatory benefits. K33 believes that the easing of uncertainty such as the Federal Reserve's interest rate decision and the CLARITY bill vote has helped the market achieve a breakthrough. Nexo pointed out that in recent times, the trading volume has decreased, the breadth of the rise has narrowed, and the leverage of derivatives has increased, putting Bitcoin at risk of profit taking or temporary adjustment. Capital.com analysts believe that $87000 to $88000 is the recent resistance zone, with a focus on $90000 after breaking through, followed by $84000 to $85000 and $80000 support below. Tom Lee stated that the cryptocurrency bull market has begun, driven by the return of AI funds, tokenization, improvement in AI fundamentals, and the end of the four-year cycle.