Bitcoin has surged past the $80,000 mark, reaching a peak of $80,617 on May 4, 2026, driven by significant ETF inflows and geopolitical relief. The leading cryptocurrency's price increase was fueled by a $630 million inflow into spot Bitcoin ETFs and successful negotiations in the Strait of Hormuz, which eased global risk concerns. A technical short squeeze also contributed, with over $300 million in short positions liquidated in 24 hours. Currently trading around $79,740, Bitcoin's recent breakout has shifted market sentiment to "Strong Bullish." The $76,086 level, previously a resistance, now acts as a support floor. Analysts predict a potential retest of $85,000 by mid-May if ETF inflows continue, with some projecting targets as high as $94,000 to $130,000 for the latter half of 2026, contingent on macroeconomic stability.