Bitcoin steadies near $81K as analysts eye next resistance levels
Bitcoin held steady near the $81,000 mark this week after a gradual recovery in recent days. Analysts are now watching key levels as the cryptocurrency attempts to push higher. Some warn that altcoins gaining strength could trigger broader market corrections in the coming months. On May 10, Bitcoin traded around $80,874, reaching an intraday peak of $81,026 before dipping to $80,237. Analyst Michaël van de Poppe noted that Bitcoin could continue climbing as long as its price stays above the 21-week moving average. He highlighted $86,000 to $88,000 as the next major resistance zone, with a further barrier between $93,000 and $95,000 near the 50-week moving average.
Support levels at $79,000 and $76,000 remain critical for maintaining Bitcoin’s short-term structure. Meanwhile, data from CryptoQuant showed that Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR) stayed above 1 for nine consecutive days starting May 1. Analyst Carmelo Alemán interpreted this as a sign of profit-taking by sellers. Van de Poppe also cautioned that if altcoins begin showing renewed strength, the broader market might face corrections around June or July.
Bitcoin’s price action remains tied to key technical levels, with analysts closely monitoring resistance and support zones. The sustained aSOPR above 1 suggests ongoing profit-taking, while warnings about altcoin movements hint at potential volatility ahead. Traders will likely keep an eye on these factors as the market develops.
