BTC correction may be temporary despite $80K resistance, says analyst

Although Bitcoin's upward momentum is being capped by sell-offs near the $80,000 mark, the current correction may be temporary, according to an analysis by CoinDesk. Analyst Alex Kuptsikevich noted that while a concentration of sell orders at the $80,000 level is limiting gains, the current market movement appears to be a corrective phase within the broader uptrend that has been in place since March. He pointed to bullish signals from on-chain and ETF data, highlighting that Binance has seen a net inflow of approximately $3.4 billion in stablecoins this month, while U.S. spot ETFs have attracted $2.4 billion, confirming underlying demand. However, Kuptsikevich also identified DeFi hacks, which have surpassed $600 million in April alone, as a key risk factor pressuring investor sentiment.