Analysis that long-term Bitcoin holders are attracting a large number of institutional purchases to push them back above US$80,000

BitfinexAlpha's latest report pointed out that after entering May, BTC successfully crossed the intensive selling pressure zone of US$78,000 to US$79,000, once approaching US$83,000. This round of gains was mainly driven by spot demand rather than leveraged funds. Since May 8, spot CVD (cumulative trading volume difference) has increased significantly, indicating that buyers continue to proactively take orders and absorb market supply. ETF capital inflows and open market holdings have become the main driving forces, while long-term holders have currently held nearly 4 million BTC, the largest increase since the 2020 epidemic crash, which means that market liquidity chips are being further locked in. The market currently expects the Fed to keep interest rates unchanged in June to be about 94%. Against the background of uncertain macro environment, institutional funds continue to deploy the encryption market.