On May 4, 2026, Bitcoin surpassed the $80,000 mark, briefly hitting $80,500 after nearly three months, buoyed by strong institutional participation and improving market sentiment. The cryptocurrency was last above this level on January 31, when it peaked at $84,136, before dropping to $60,074.20 on February 6. Currently, Bitcoin is trading at $79,742 with a 24-hour trading volume of $44 billion. Analysts attribute the recent rally to significant inflows into Bitcoin spot exchange-traded funds (ETFs), alongside short-covering and a gradual improvement in overall market sentiment. Raj Karkara, COO of ZebPay, noted that this movement reflects the growing maturity of the asset class, supported by renewed institutional demand and improving regulatory clarity. Key support levels are identified around $78,000–$78,100, while resistance is seen near $80,100–$81,000. Analysts remain cautiously optimistic, suggesting that a sustained hold above $80,000 could lead to further gains towards $82,000–$85,000, although volatility and macroeconomic uncertainties pose risks to this outlook.