Bitfinex Blog/
Bitcoin Clears Sell Wall as STRC, Derivatives and ETFs Build Momentum
Bitcoin has broken above the $80,000 psychological barrier and the $78,000-$79,000 supply wall, reaching near $83,000. This move is driven by strong ETF inflows, institutional buying via STRC preferred shares, and a short squeeze that liquidated $301.93 million in shorts. On-chain data shows BTC is now trading above the Short-Term Holder Realised Price and True Market Mean, with spot buyers absorbing significant profit-taking.
high impactbullishBTC
Why It Matters
The reclamation of $80,000 and the absorption of overhead supply suggests a structural shift in market sentiment, supported by institutional demand and a reduction in bear-side positioning.