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Bitcoin held above the $80,750 area as of Sunday, defending a key support level after a relatively quiet weekend. Earlier in the week, BTC peaked at $82,436 before moving into consolidation.
Market participants are largely looking for a brief pullback before the next upward push. Attention is centered on a bull-market support zone defined by two moving averages positioned just beneath the $80,000 level.
Cryptic Trades, an analytics account on X, said a retreat toward this support region is the most likely near-term scenario. The account added that if price action remains above the band and the broader support level around $75,000—linked to April 2025’s bottom—upward momentum remains favored.
Trader Daan Crypto Trades described the first breach above the support zone as “not a clean break,” saying he wants to see BTC clear the lower $80K area and hold there for seven to fourteen days before drawing more definitive conclusions.
Analyst Ted Pillows said BTC continues to defend the $80,000 level. He noted that a successful recapture of $81,500 could drive BTC toward $84,000, aligning with broader trader sentiment that upside remains possible if key levels hold.
“BTC is still holding above the $80,000 level.”
“A reclaim of the $81,500 level could most likely push Bitcoin above $84,000.”
The April Consumer Price Index (CPI) report is due Tuesday and may influence short-term market dynamics. Trader Killa said BTC has advanced following the previous two CPI announcements, but warned that institutional participants might reduce risk exposure ahead of the release.
“We have CPI next week. Its priced in. BTC has rallied after the last two CPI releases. However, if we follow 2025 CPI price action, we may see bigger players start de-risking into the event counter narrative.”
Killa also flagged $74,000 as a critical level to monitor if the bull-market support zone breaks down, saying he would look for liquidity sweeps near that pivot point to gauge subsequent direction.
Resistance levels cited in the coverage include $82,000 and $82,450. A definitive close above $82,450 could open the path toward $83,200 and then $84,000.
On the downside, $80,400 was identified as the initial substantial support level, followed by $79,250 and $78,500 as additional defense lines.
Separately from spot price action, Morgan Stanley’s Bitcoin Trust (MSBT) completed its opening month without recording a single net outflow day—an outcome described as unmatched by any other spot Bitcoin ETF during the comparable timeframe.
MSBT began trading on April 8 and recorded $193.6 million in cumulative net inflows through May 7, alongside $239.6 million in net assets. The trust logged 17 days of inflows over the period.
During sessions when competitors saw outflows or redemptions—Fidelity’s FBTC with $97.6 million in outflows and BlackRock’s IBIT with $27.2 million in redemptions—MSBT continued to register positive inflows.
The fund charges an annual fee of 0.14%, described as the most competitive among US spot Bitcoin ETFs, compared with 0.25% for BlackRock and Fidelity. Bloomberg ETF analyst Eric Balchunas ranked MSBT’s launch among the top 1% of all ETF launches historically.
Virtually all initial inflows came from self-directed investors. Morgan Stanley’s network of 16,000 financial advisors, managing more than $9.3 trillion in client assets, has not yet received complete access to the product through the advisory platform.
At publication time, Bitcoin was trading near $80,840.
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