Bitcoin Price Rebounds to Near $80,000 Amid Institutional Buying and Major Holder Accumulation

Bitcoin's price has been on the rise in recent days, climbing to near $80,000 and sparking hopes of a sustained recovery. According to data from Bitfinex, major holders with over 1,000 BTC have added 270,000 coins in the past 30 days, the largest monthly gain since 2013.

The influx of institutional capital has also been a key driver of the price increase, with Bitcoin spot exchange-traded funds (ETFs) registering $223 million in net inflows on April 23. This marked the eighth straight day of positive flows for these funds.

Meanwhile, blockchain intelligence from Santiment revealed that addresses holding between 10 and 10,000 BTC increased their positions by nearly 41,000 coins over a two-week span. Glassnode data also showed that Bitcoin reclaimed the 'True Market Mean' threshold of $78,100 for the first time since January.

While some analysts warn that the $79,000-$80,000 region is a strong resistance zone and that failure to recapture this level could drive BTC back toward $76,000, the overall sentiment remains bullish. Negative funding rates on perpetual swap markets are also seen as potentially positive for Bitcoin.