Bitcoin briefly climbed above $82,000 on Sunday, its highest level since May 6, as improving macro conditions and sustained institutional demand pushed prices higher.
ETF demand tightens supply
According to price data, bitcoin rose 1.4% to $81,700 as of 9:30 p.m. ET on Sunday, touching $82,200 at its intraday peak.
Spot bitcoin ETFs reported $622.7 million in weekly net inflows last week, extending their streak to six consecutive weeks of positive flows and bringing the six-week total to over $3.4 billion.
Zeus Research Analyst Dominick John said:
“Bitcoin hits $82,000 as institutional inflows accelerate, macro conditions improve, and persistent spot ETF demand continues to tighten supply. Meanwhile, progress on the Clarity Act is boosting long-term sentiment.”
The U.S. Senate Banking Committee also announced it will hold a markup hearing for the Clarity Act on May 14, advancing the long-stalled crypto legislation.
Easing geopolitical tensions
Geopolitical developments added to the cautiously positive backdrop, with Middle East tensions showing signs of easing even as U.S.-Iran negotiations remained deadlocked.
President Trump rejected Iran’s latest ceasefire proposal on Sunday, calling it “totally unacceptable,” but analysts said market momentum remained intact.
Andri Fauzan Adziima, Research Lead at Bitrue Research Institute, said:
“The momentum does appear strong enough to challenge a sustained hold above the $80,000-$82,000 zone in the near term, backed by institutional flows and technical breaks, but it will need continued buying to clear resistance cleanly — pullbacks to $78,000-$80,000 support remain a healthy risk.”
