Bitcoin Rally Above $80,000 Divides Analysts

Bitcoin climbed above $80,000 on Sunday, marking the first time the price has reached that level in three months and capping a roughly 22% gain over the past five weeks.

Santiment reported daily active Bitcoin wallets near 531,000 and new wallet creation around 203,000, both figures at two-year lows. The analytics firm noted that price gains without rising on-chain participation have tended to be fragile, while also saying activity troughs can precede larger moves. Santiment recorded net realized profits of $207.56 million on Sunday, the largest monthly spike it has tracked, and described the profit-taking as a stress test given the heavy supply.

Michael Nadeau, founder of The DeFi Report, flagged a technical signal in spot trading: the Bitcoin Spot Volume Delta turned positive for only the second time in the current bear market. He pointed out that similar flips have been followed by corrections in past cycles. Nadeau added that the market is entering the seventh month of the downturn, recent short liquidations pushed prices into key resistance, and funding rates have shifted positive.

Crypto commentator Darkfost reported short-term holder inflows in profit of roughly 13,000 BTC and weekly short-term holder inflows on Binance of about 36,500 BTC, numbers he described as among the lowest in the cycle. He noted the contraction in sell-side pressure as a factor for possible consolidation above $80,000.

Analyst PlanC framed the current price action within a longer-term cycle that began at the November 2022 low near $16,000 and projected a possible peak north of $250,000 in late 2027 to early 2028.

Market participants are watching a set of on-chain and trading indicators for next steps. Net realized profit spikes indicate holders are taking gains, while low wallet creation and daily activity point to limited new retail participation. Spot Volume Delta readings and funding-rate changes are being monitored for shifts in short-seller behavior and short-term volatility.

Traders will track whether follow-through buying appears on exchanges and in derivatives markets or whether selling pressure resumes. They will also watch whether on-chain activity rises with price or remains subdued.