Bitcoin Breaks Above $82K to Highest Since January, Driven by $2.44B ETF Inflows

At the time of writing, Bitcoin broke above $82,000 to reach its highest level since late January, driven by $2.44 billion in spot ETF inflows during April and over $300 million in short liquidations in 24 hours. BTC traded near $82,300, up approximately 14% from early April lows. BlackRock's IBIT accounted for roughly 75% of the total ETF inflows.

The breakout carries technical significance as Bitcoin reclaimed its bull market support band, a moving average level that had capped every recovery attempt since January. The RSI sits near 65, in bullish territory but not yet overbought, with analysts watching $85,000 as the next resistance level. However, CryptoQuant noted the rally is driven primarily by ETF inflows and leveraged longs rather than broad-based spot buying, with Polymarket odds of Bitcoin reaching $90,000 in May at 23%.