Bitcoin Surges Back Above $80K on Binance Taker Buying, ETF Inflows and Short Squeeze as Traders Eye $86K–$96K

Bitcoin reclaimed $80,300, marking its first return to the $80K level since February 2026, according to on-chain data showing heavy taker buy activity on Binance totaling $1.98 billion across two consecutive hours (hourly spikes of $1.19 billion and $792 million). The report also noted that ETF buyer cost basis acted as support ahead of the move, the 6–12 month realized cap share rose to 27.5%, and the 1-hour RSI reached 74.77 ^[1].

Institutional flows into US spot Bitcoin ETFs continued for a fifth consecutive week, with $153.87 million reported in the latest week; commentators also highlighted technical resistance zones near $86–88K and $92–94K and said ongoing geopolitical developments between the US and Iran remain a factor for market risk appetite ^{[2] [3]}.

Separately, coverage noted a significant short squeeze and further institutional buying that some outlets say is driving upside targets (one piece cited a $96K target), while broader markets show commodities outperforming Bitcoin year‑to‑date — crude oil up roughly 61.8% and gold up about 9.7% versus Bitcoin’s weaker YTD performance through April 22, 2026 ^{[4] [5]}.

On‑chain signals and continued ETF inflows coincide with strong short‑term momentum (1H RSI above 74), while some market participants have flagged potential liquidity traps, indicating mixed signals for near‑term price direction ^{[1] [3]}.