Bitcoin is trading above $80,750 as of Sunday, holding a key level after a weekend that saw little volatility. The price hit a high of $82,436 earlier in the week before pulling back into consolidation.
Traders are broadly expecting a short-term dip before the next leg higher. The focus is on the bull market support band — a zone defined by two moving averages sitting just below $80,000.
Analytics account Cryptic Trades posted on X that a pullback toward that support band is the most likely short-term outcome. The account added that as long as price holds above the band and the broader support around $75,000 — which aligns with the April 2025 low — the path of least resistance remains to the upside.
Trader Daan Crypto Trades described the initial move above the support band as “not a clean break.” He said he wants to see price clear the low $80K range and hold there for one to two weeks before drawing any conclusions.
Analyst Ted Pillows weighed in on X, noting that BTC is still holding above $80,000 and that a reclaim of $81,500 could push the price toward $84,000. His view aligns with the broader trader consensus that upside is possible if key levels hold.
$BTC is still holding above the $80,000 level.
A reclaim of the $81,500 level could most likely push Bitcoin above $84,000. pic.twitter.com/BYyluMFUWZ
— Ted (@TedPillows) May 10, 2026
April CPI data is due Tuesday and could affect short-term price action. Trader Killa noted on X that BTC has rallied after the last two CPI releases. However, he flagged the possibility that larger players could start de-risking ahead of the data, citing 2025 CPI price action as a reference.
We have CPI next week.
Its priced in.
BTC has rallied after the last two CPI releases. However, if we follow 2025 CPI price action, we may see bigger players start de-risking into the event counter narrative.
Key level to hold is the 78.6K weekly open, if lost,… pic.twitter.com/F3NxUesJ9A
— Killa (@KillaXBT) May 9, 2026
Killa identified $74,000 as a level to watch if the bull market support band fails, and said he would look for liquidity sweeps around that pivot to gauge the next move.
Key resistance sits at $82,000 and $82,450. A confirmed close above $82,450 could open the door to $83,200 and then $84,000. On the downside, $80,400 is the first major support, followed by $79,250 and $78,500.
Away from price action, Morgan Stanley’s Bitcoin Trust (MSBT) wrapped up its first month of trading with no net outflow days — a record no other spot Bitcoin ETF matched over the same period.
Morgan Stanley’s MSBT Sees $194M in First-Month Inflows, No Daily Net Outflows
Morgan Stanley’s Morgan Stanley Bitcoin Trust（MSBT）recorded $193.6 million in cumulative net inflows and $239.6 million in net assets from its April 8 launch to May 7, with 17 days of inflows, five… pic.twitter.com/G74uSSMfs0
— Wu Blockchain (@WuBlockchain) May 11, 2026
MSBT launched on April 8 and pulled in $193.6 million in cumulative net inflows through May 7. On days when rivals like Fidelity’s FBTC lost $97.6 million and BlackRock’s IBIT shed $27.2 million, MSBT still posted positive inflows.
The fund carries the lowest annual fee of any US spot Bitcoin ETF at 0.14%, undercutting BlackRock and Fidelity’s 0.25%. Bloomberg ETF analyst Eric Balchunas placed MSBT’s launch in the top 1% of all ETF debuts.
Nearly all early inflows came from self-directed clients. Morgan Stanley’s 16,000 financial advisors, who manage over $9.3 trillion in assets, have not yet had full access to the fund through the advisory platform.
Bitcoin was trading near $80,840 at the time of publication.
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