Bitcoin (BTC) Price: Hits 13-Week High as Bulls Target $84,000 CME Gap

TLDR

• Bitcoin hit a 13-week high of $81,300, trading above $80,000 for the first time since January
• The CME futures gap at $84,000 is being watched as the next key price target
• Revised CLARITY Act stablecoin language is seen as the main regulatory catalyst this week
• $452 million in crypto short liquidations occurred over 24 hours as buyers moved aggressively
• U.S. spot demand remains soft, with Bitcoin trading at a discount on Coinbase

Bitcoin climbed to a 13-week high of $81,300 on Monday, pushing above the $80,000 level for the first time since January 31. The move comes after a 5.5% rally over five days and follows a strong April that saw BTC gain nearly 12%.

The broader crypto market followed. Ether rose 2% to $2,367, XRP gained nearly 2% to trade just above $1.41, and Dogecoin led the top 10 with a 3.5% gain. Total crypto market cap rose 1.6% to $2.65 trillion.

Analyst Ali Charts pointed to a bullish MACD crossover on Bitcoin’s weekly chart that occurred on April 13. In a post on X, he noted that similar crossovers in October 2023 led to a 147% rally, October 2024 produced a 75% rally, and May 2025 resulted in a 35% gain. He identified the 200SMA at $83,000 as the key structural barrier, saying a daily close above it could open the path toward $89,000 and then $94,000.

Is Bitcoin heading to $100,000?$BTC continues to show structural strength. Following a bullish MACD crossover on the weekly chart on April 13, we have already seen a steady 15% price increase.

Historically, this specific weekly crossover has been a premier signal for defining… pic.twitter.com/Jin4BedDN8

— Ali Charts (@alicharts) May 5, 2026

Crypto analyst Matthew Hyland described the move as a “disbelief rally,” saying that many traders calling for $60,000 and below would likely flip bullish only after prices exceeded $90,000.

Regulatory Catalyst in Focus

The main driver cited by analysts this week is regulatory progress. U.S. senators Thom Tillis and Angela Alsobrooks released revised language for the CLARITY Act on Friday. The update addresses a dispute between banks and crypto markets over stablecoin rewards.

Nexo Dispatch analyst Dessislava Ianeva said the revised language “bars stablecoin rewards that mimic bank deposit interest while preserving activity-based rewards,” clearing a path toward a Senate Banking markup this month.

Gains were partially capped by renewed Middle East tensions. Iran and the U.S. exchanged conflicting claims over a naval incident in the Strait of Hormuz, pushing oil prices higher and dampening broader risk appetite.

Traders Eye the $84,000 CME Gap

Trader Daan Crypto Trades said Bitcoin is “on its way to close the previous large gap from $84K,” calling these levels potential “magnets” and local reversal zones.

$BTC Opened up with a new small CME gap.

It is also well on its way to close the previous large gap from $84K.

Good to mark these levels on your chart as they could act as a "magnet" and local reversal zones if price trades close/into them. pic.twitter.com/EP8YI11f2R

— Daan Crypto Trades (@DaanCrypto) May 4, 2026

Bitcoin reclaimed the true market mean at $77,500 and the short-term holder cost basis around $78,000 during the rally. A break above $84,000 would trigger over $2.85 billion in leveraged short liquidations across exchanges.

Buying pressure was heavy. CryptoQuant analyst Amr Taha reported two consecutive large hourly buy-volume spikes on Binance of approximately $1.19 billion and $792 million.

ETF inflows reached $1.97 billion in April, the highest since October 2025. However, U.S. spot demand remains weak, with Bitcoin still trading at a discount on Coinbase relative to global prices.

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