Bitcoin trades above $79,000 after US spot ETFs pulled in a reported $730.9 million in a single day last week, their second-largest daily haul of the year. Analysis platform CryptoRus frames the coming days as a test of whether that buying can push BTC through the $82,000 resistance level, not yet a confirmed breakout.
Bitcoin is trading above $79,000 after US spot ETFs pulled in a reported $730.9 million in a single day last week, their second-largest daily inflows of the year after the $843.6 million they drew in on January 14. Crypto analysis platform CryptoRus, in its latest market letter, frames this week as a test of whether that institutional buying can push BTC through the closely watched $82,000 resistance level, calling it a bullish test rather than a finished breakout.
Three signals behind the breakout test
CryptoRus points to three signals worth tracking. The first is the ETF print itself: Bitcoin held near $80,000 even after a stronger-than-expected US jobs report briefly pressured the market, and the letter reads that resilience as institutional buyers absorbing supply before resistance breaks, though it notes similar spikes have shown up near past market tops.
The second signal is a leverage reset. Over 24 hours, $554.2 million in crypto positions were liquidated, with $471.4 million of that in shorts and $276.7 million coming from Bitcoin alone. According to CryptoRus: "That is real demand. It is not yet a completed breakout." The letter adds that forced short covering can speed up a rally without guaranteeing organic demand sticks around once the squeeze ends.
The third signal is Zcash, which the letter says climbed from roughly $40 to above $1,200 over the past year and pushed into crypto's top ten, a sign that speculative capital is willing to concentrate around a scarcity narrative.
A move still needs confirmation
Bitcoin itself has changed little over 24 hours. It is up roughly 2% for the week and about 23% for the month, though it remains down close to 28% over the past year and around 37% below the $126,000 high it set last October. Daily trading volume sits near $22 billion, up about 13% from the prior session.
Source: CryptoPotato
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