The $100,000 countdown: Bitcoin tests $80,000 psychological barrier as it hits 11-week high
With the ceasefire extended indefinitely and institutional inflows hitting $1.2B, see how BTC is testing the $80,000 barrier and what the Fear & Greed Index says about the next move.
Nic Tse
Key Takeaways
- Bitcoin (BTC) reached an 11-week high of $79,449 on April 23.
- The ‘Fear and Greed Index’ climbed into the low thirties early in the week and reached as high as 46 on Thursday.
- Institutional net inflows into BTC totalled $1.23 billion over the last six sessions.
- BTC looks to turn the $78,000 mark into an immediate support, as it eyes the $80,000 level.
Macro de-risking and the $79,449 high
Despite the naval blockade of the Strait of Hormuz remaining in effect, the market’s focus has shifted to BTC’s resilience and growing altcoin plays, catalyzed by US President Donald Trump’s April 21 announcement of an indefinite ceasefire extension.
As the threat of infrastructure strikes recedes, BTC has been making a steady recovery to once again break the $78,000 mark, hitting an 11-week high of $79,449 on Wednesday.
Monday’s $238.37 million inflow into spot BTC ETFs followed a blockbuster week of $996.4 million in total net inflows, which may point to institutional desks viewing the $75,000 to $78,000 range as an accumulation zone rather than a peak.
The most significant signal of this conviction came from Strategy Inc. (MSTR). Their disclosure of a $2.54 billion BTC acquisition represents one of the largest single-week corporate treasury allocations in history. By removing over 34,000 BTC from the liquid supply at an average price of $74,395, MSTR has created a squeezed supply.
Tracking Bitcoin’s gains against altcoins
With more than 5% gains in a seven-day trailing period, BTC still dominates headline price action, although the ETH/BTC ratio tells a story of simmering institutional rotation. Since the US President’s indefinite extension of the ceasefire on April 21, the market has begun to re-rate ETH as a growth asset. The ETH/BTC ratio has rebounded from its March capitulation floor of 0.0304 to test 0.0313 — its highest level in three months.
US spot ETH ETFs also saw $187 million in weekly net inflows, the strongest performance of the year. Although BTC is still capturing the lion’s share of institutional flows, ETH seems to be gaining traction as investors seek to capture its deflationary mechanics and ‘triple point asset’ status (yield, commodity, and capital) as the Glamsterdam upgrade nears.
The SOL and XRP momentum
The current rally can be supported by a marked shift in the ‘Crypto Fear & Greed Index’, which has exited from the ‘extreme fear’ lows of 12 to 23 seen earlier this month. It reached a high of 46 on Thursday.
The bullish undertones can also be observed among large-cap altcoins.
Solana (SOL)
Rising more than 6% across a seven-day window, Solana's growth is driven by tangible ecosystem expansion. As of April 2026, the network has surpassed 10.8 million monthly active users, with DeFi Total Value Locked (TVL) hitting a local high of $10 billion (80 million SOL).
XRP
Following its classification as a digital commodity, XRP recorded a noteworthy $55.71 million in weekly ETF inflows. Its current stability above $1.41 may signal returning risk appetite alongside SOL’s reclamation of $88.
Bitcoin price: The $80,000 test
With the altcoin season index in the low thirties, BTC is still enjoying a clear dominance of the market share. By breaking past the $78,000 mark twice in a week, the technical path of least resistance may be trending upward.
Price range | Scenario |
Immediate support ($77,500 to $78,500) | This ‘retest’ zone has to be defended on the daily close to confirm the April 22 breakout. |
Support floor ($75,000) | This zone is reinforced by the 20-day EMA ($74,828). BTC’s ability to hold this floor throughout the ceasefire expiration scare of April 21 has turned it into a primary launchpad for the end of the month. |
The $80,000 threshold | This is the ultimate ‘supply cluster’. Clearing this psychological barrier is expected to trigger a significant short-covering event, as traders who are positioned for a geopolitical rejection at $75,000 would be forced to exit their positions. |
Short-term outlook | At 66, Bitcoin's Relative Strength Index (RSI) is climbing but remains below the overbought threshold of 70+. This suggests the rally has sufficient "healthy headroom" to breach $80,000 and move toward the next structural target near $84,000. |
Important information: This informational content is written by Crypto.com and should not be considered as an investment recommendation or advice. Trading cryptocurrencies carries risks, such as price volatility and market risks. Before deciding to trade cryptocurrencies, consider your risk appetite. All forecasting methods, scenarios, and examples are illustrative and subject to market uncertainty.
Past performance offers context but does not ensure future results. Investment outcomes are subject to market volatility, economic changes, and other unpredictable variables.
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