Bitcoin's approach toward the $80,000 level has triggered an extraordinary wave of market activity, with spot trading volume across major exchanges surging by 3 to 4 times in recent hours, fueled by heavy buying pressure from investors.
On-chain data reveals over 2,000 BTC per hour flowing into exchanges from whale wallets, reflecting unprecedented accumulation activity and supporting continued upward momentum.
Altcoins also saw a similar surge, with exchange deposits tripling – a sign that risk appetite is broadening beyond Bitcoin to include other digital assets.
This strong performance is supported by multiple factors:
· Three consecutive weeks of positive Bitcoin ETF inflows.
· Analyst confirmation of a new bull cycle following the bear market end.
· Growing institutional demand for digital assets as an inflation hedge.
Analysts expect continued momentum could push Bitcoin beyond the $80,000 mark in the coming days, with markets closely watching the Federal Reserve's upcoming rate decision.