Bitcoin consolidates near $80,000 after hitting $81,280 as buying momentum stays strong

Bitcoin consolidated near the $80,000 mark on Friday after hitting an intraday high of $81,280 as buying momentum stays strong. The cryptocurrency was trading at the $79,612 mark.

In the past 24 hours, Bitcoin was up 1.1%, and Ethereum was down 0.2% to trade at the $2,485 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano rallied up to 5.7%.

Avinash Shekhar, Co-Founder & CEO, Pi42 said that Bitcoin is consolidating near the $80,000 mark after touching an intraday high of around $81,280, indicating that buying momentum remains intact despite intermittent profit-booking.

Shekhar further said that the rally is being supported by sustained ETF inflows, a softer dollar, improving regulatory sentiment and concerns around currency debasement, and investors should avoid chasing the rally through aggressive positions and consider entering gradually during price corrections.

The global crypto market capitalisation edged down 2.57% to $3.07 trillion, according to Coingecko.

Bitcoin’s move back toward $80,000 is increasingly looking like a test of conviction rather than a straightforward breakout. The broader structure remains constructive, with BTC holding above its 4-hour moving average and defending the $79,000 area, said Riya Sehgal, research analyst at Delta Exchange