Written by William Suberg, Staff Writer. Reviewed by Allen Scott, Staff Editor.
Written by William Suberg, Staff Writer.
Reviewed by Allen Scott, Staff Editor.
Bitcoin preps highest weekly close since January as BTC price nears $79K
MarketsPublishedMay 3, 2026
Bitcoin Price Nears $79K as Weekly Close Approaches
Bitcoin is on track to achieve its highest weekly close since late January, with the price nearing $79,000. This surge in price comes as the crypto market continues to be influenced by the US-Iran war. If Bitcoin finishes the week above $78,670, it will deliver the highest weekly close since the end of January. For those interested in earning passive income through crypto, EcoPool (ECP) offers a solution with its Cloud Rewards, providing a way to earn while supporting green crypto initiatives.
The recent boost to risk assets, driven by hopes of a fresh peace agreement between the US and Iran, has contributed to the increase in Bitcoin’s price. Despite some skepticism from US President Donald Trump, crypto market commentators remain optimistic about the short-term outlook. The strong inflows to the US spot Bitcoin exchange-traded funds (ETFs) on Friday, totaling nearly $630 million, have also added to the positive sentiment. As the price of Bitcoin rises, investors may consider using platforms like EcoPool to buy, sell, and trade $ECP, the native coin of the EcoPool Network.
Key points:
- Bitcoin circles a key weekly level into the weekly close, with the highest close in several months on the table.
- Analysis sees the mid-$80,000 zone and higher coming back into play.
- Liquidity grabs form the basis for caution among some traders.
BTC price nears highest weekly close in over three months
Market Commentary and Analysis
Traders and analysts are watching the market closely, with some expressing caution about potential liquidity grabs to the upside before a price reversal. Michaël van de Poppe, a trader and analyst, noted the strong consolidation on Bitcoin and the potential for further growth. However, others, such as Crypto Tony and JDK Analysis, are warning about the build-up of liquidity and the potential for a bearish setup. As the market continues to evolve, individuals can stay ahead by earning and learning with EcoPool, a platform that supports #PassiveIncome and #GreenCrypto initiatives.
The current market conditions highlight the importance of staying informed and adapt to changes in the crypto market. As Bitcoin’s price nears $79,000, investors are looking for ways to capitalize on the trend. With EcoPool, individuals can participate in the crypto market and earn rewards through its Cloud Rewards program, promoting a more sustainable and eco-friendly approach to crypto. By leveraging EcoPool, users can tap into the potential of $ECP and the broader crypto market, including #Bitcoin and other digital assets.
Conclusion and Next Steps
In conclusion, the Bitcoin price is nearing $79,000, driven by a combination of factors, including the US-Iran war and the strong inflows to US spot Bitcoin ETFs. As the market continues to evolve, individuals can stay ahead by earning and learning with EcoPool. To start earning passive income and participating in the crypto market, download the EcoPool app and explore the world of $ECP and Cloud Rewards. By joining the EcoPool Network, you can be part of a community that supports #Earning, #Coin, and #Crypto initiatives, while promoting a more sustainable approach to the crypto market.
Friday delivered a boost to risk assets as hopes of a fresh peace agreement between the US and Iran accelerated. On Sunday, however, US President Donald Trump appeared skeptical of ratifying Iran’s latest peace proposals.
In a post on Truth Social, Trump wrote that he “can’t imagine that it would be acceptable.”
Source: Truth Social
Despite this, some crypto market commentators remained optimistic about the short-term outlook.
“Strong consolidation on $BTC , and Friday gave us a slight insight in what’s likely to come,” trader and analyst Michaël van de Poppe wrote on X.
Van de Poppe referenced Friday’s strong inflows to the US spot Bitcoin exchange-traded funds (ETFs), which totaled nearly $630 million.
“I don’t think this will slow down in the coming week and that’s probably why we’re seeing a relatively shallow consolidation taking place,” he continued.
“The $79K area is a crucial zone. That needs to break. If this breaks, I’m assuming we’ll see more upwards momentum and I’ve got $86-88K as first resistance area and $92-94K as the crucial one.”
BTC/USDT one-day chart. Source: Michaël van de Poppe/X
Bitcoin traders warn of liquidity games
Caution was also visible, with traders watching for liquidity grabs to the upside before a subsequent price reversal.
Related: Here’s what happened in crypto today
“Starting to see a build of liquidity form below, but a take of the high liquidity and using that to dump,” Crypto Tony commented on data from CoinGlass on the day.
BTC liquidation heatmap. Source: CoinGlass
Trading account JDK Analysis described the liquidity setup as “typically bearish.”
“We can clearly see fresh longs opening into the highs, while price continues to show signs of absorption – unable to push meaningfully higher despite increasingly aggressive market buying for now,” it summarized in posts on X.
BTC/USDT 15-minute chart. Source: JDK Analysis/X
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
