- Bitcoin nears $79K as ETF inflows return, signaling renewed institutional demand in early May.
- Analyst points to $86K–$88K as the next target if Bitcoin breaks and holds above $79K resistance.
- April saw strong ETF inflows, though late-month outflows slowed momentum near key levels.
Analyst Michael van de Poppe says Bitcoin may rise further as ETF flows turn positive again. He shared this outlook today, May 1, citing seasonal inflows and steady price structure. The market now watches whether Bitcoin can break above $79,000.
For context, Bitcoin trades at $77,239, after a 1.6% uptick in the past day, easing the weekly loss to 0.4%. This current uptick has seen Bitcoin surge by 12.5% in the past month, its strongest monthly close this year.
ETF Flows Show Mixed but Improving Trend
Backing the outlook on institutional flows, data from Farside shows Bitcoin ETFs recorded about $1.96 billion in net inflows in April, signaling continued institutional demand. These inflows supported Bitcoin’s recovery through the month.
However, momentum slowed near the end of April. On April 29, ETFs posted about $137 million in net outflows, bringing three consecutive days of outflows to a close. Meanwhile, ETF flows turned positive again, with modest net inflows of $14.76 million, indicating that buying activity resumed at the start of May.
Source: SoSoValue
$79K Emerges as Key Breakout Level
Van de Poppe pointed to $79,000 as a critical level for Bitcoin. The price has tested this range but has not yet moved above it. He said a clear break above $79,000 could open the path toward the next resistance zone between $86,000 and $88,000. This level is visible on recent price charts as the next area of interest.
Bitcoin hitting the next resistance level may restore confidence in the market, favoring altcoins, according to Van de Poppe. This environment often leads to stronger performance from Altcoins as traders shift capital.
With today’s scenario, Bitcoin remains below the breakout level. The next move will likely depend on whether ETF inflows strengthen and support a sustained push above resistance.
Related: Bitcoin Price Prediction May 2026: Can BTC Break The 200-Day EMA In May?
Repeated Profit-Taking May Slow Bitcoin Uptrend
Meanwhile, recent analysis by CryptoQuant suggests that repeated profit-taking around $77,000 may be slowing Bitcoin’s rally.
Short-term holders have consistently sold into strength, sending about 150,000 BTC to exchanges since mid-April and creating resistance below $80,000.
Source: X
At the same time, spot trading volumes have dropped sharply across major exchanges, signaling weaker investor conviction at current price levels. While liquidation dynamics provide some short-term support, declining open interest and participation suggest Bitcoin may need fresh demand to sustain a breakout higher.
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