According to Glassnode’s analysis, Bitcoin’s momentum above $80,000 is slowly building as its market structure improves.
Bitcoin spent the past week climbing from around $78,000 to $82,000 twice, with buyers “continuing to absorb pullbacks even as momentum began to cool near local highs,” Glassnode reported Monday.
The asset briefly fell below $81,000 in early Asian trading on Tuesday, but there was “strong bullish sentiment” and “increased conviction” in the upward price movements, he added.
The analytics provider noted that spot trading volume has increased, suggesting that recent price movements are “gaining traction with stronger investor participation.”
Bullish nuances are building
This means that BTC’s market structure continues to improve, supported by stronger on-chain activity, healthier profitability and more stable holder positioning, analysts concluded.
“While bullish undertones strengthen, lower capital inflows and cautious sentiment indicate that the market remains sensitive to changes in risk appetite.”
Swissblock reported on Tuesday that Bitcoin was “still in full swing,” with the latest reset resembling previous failed ignition attempts.
“Bitcoin has now consolidated in the cost base battleground, while momentum remains structurally strong. As long as momentum remains above the transition zone, bulls remain in control.”
Bitcoin is still on its way.
The last reset resembled previous failed power-up attempts:
→ Momentum briefly regained
→ Failure to hold above the transition zone
→ Income in a negative dynamicBut this time it was different.
Successful momentum… pic.twitter.com/EBZdNLW0rD
-Swissblock (@swissblock__) May 11, 2026
Alphractal founder and CEO Joao Wedson observed that the 30-day change in foreign exchange reserves paints a different picture, with BTC falling every time this metric turns positive. Bitcoin’s entry on exchanges is usually a sign that investors are preparing to sell or short the asset.
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Meanwhile, the ‘Sykodelic’ permabull remained bullish as always, saying there were no hard rejections, no sell-offs and no weak price action. “What we had were small releases and then higher peaks. »
They observed that BTC now sits above the bull market support band, the true market average, and the short-term holder’s cost basis for ten days, including a daily close above the 200-day exponential moving average.
“The market as a whole is completely risk-on, and I expect $85,000 to be breached, probably this week,” they predicted.
BTC Price Outlook
The asset fell that day, dropping from another retest of $82,000 to $81,100 at the time of writing.
The asset has been flat over the past seven days, but has gained more than 13% over the past month. The upward trend has been slow but steady over the past six weeks.
