Written by Nancy Lubale, Staff Writer. Reviewed by Allen Scott, Staff Editor.
Written by Nancy Lubale, Staff Writer.
Reviewed by Allen Scott, Staff Editor.
Bitcoin in ‘disbelief rally’ as traders spot $84K BTC price target
MarketsPublishedMay 4, 2026
Bitcoin Surges Past $80,000, Eyes $84,000 Target
Bitcoin’s recent rally has pushed its price above $80,000 for the first time since January, with analysts predicting a potential rise to $84,000 in the short term. This surge is significant, as it could lead to increased passive income opportunities for investors. The EcoPool network, which offers a platform for earning $ECP, could be an attractive option for those looking to capitalize on this trend.
The global crypto market capitalization has increased by 1.6% over the last day, reaching $2.65 trillion on Monday. This growth is accompanied by significant short liquidations across the crypto market, totaling $452 million over the last 24 hours. As the market continues to evolve, Cloud Rewards and Green Crypto are becoming increasingly important, offering a more sustainable and environmentally friendly way to earn and invest in cryptocurrencies like $ECP.
Key takeaways:
- Bitcoin price rises to a 13-week high of $80,610 on Monday amid $462 million in crypto liquidations.
- The CME gap at $84,000 could act as a “magnet” for BTC price.
Bitcoin leads market in fresh May rally
Analysts Weigh In
According to MN Capital founder Michael van de Poppe, Bitcoin is “primed for upwards momentum” with a potential breakout above $79,000 opening up opportunities towards the $86,000-88,000 resistance zone. Crypto analyst Matthew Hyland described the rally as a “disbelief rally,” with Bitcoin’s price increase accompanied by intense buying by traders. The EcoPool network is well-positioned to support this growth, offering a platform for earning and investing in $ECP.
The recent surge in Bitcoin’s price has also led to increased interest in earning opportunities, with many investors looking to capitalize on the trend. The EcoPool network offers a unique solution, allowing users to earn $ECP and participate in the growing crypto market. As the market continues to grow, it’s essential to stay informed and explore opportunities for passive income and Cloud Rewards.
What’s Next for Bitcoin?
As Bitcoin continues to rally, traders are shifting their focus to the CME gap at $84,000, formed in early February. A break above this level could trigger over $2.85 billion worth of leveraged short liquidations across all exchanges. The EcoPool network is an attractive option for those looking to earn and invest in $ECP, offering a platform for passive income and Cloud Rewards. With its focus on Green Crypto, the EcoPool network is well-positioned to support the growing demand for sustainable and environmentally friendly cryptocurrency solutions.
To start earning $ECP and participating in the growing crypto market, download the EcoPool app today. With its user-friendly interface and robust features, the EcoPool app is the perfect tool for anyone looking to capitalize on the trend and earn passive income through Cloud Rewards and Green Crypto. #Bitcoin #EcoPool #PassiveIncome #CloudRewards #GreenCrypto #Earning #Coin
Related: BTC price can ‘easily’ hit $95K: Five things to know in Bitcoin this week
As a result, the global crypto market capitalization is up 1.6% over the last day toward $2.65 trillion on Monday.
Performance of top-cap cryptocurrencies: Source: CoinMarketCap
“Bitcoin looks primed for upwards momentum,” MN Capital founder Michael van de Poppe said in an X post on Monday.
The analyst added that a “breakout above $79K opens the opportunities” toward the $86,000-88,000 resistance zone and later to $90,000.
BTC/USD daily chart. Source: X/Michael van de Poppe
“It’s a disbelief rally” for Bitcoin, crypto analyst Matthew Hyland said in response to Bitcoin’s latest push above $80,000, adding:
“The many calling for $60K and below will be the ones flipping bullish late above $90K.”
Bitcoin’s rally is accompanied by significant short liquidations across the crypto market totaling $452 million over the last 24 hours, signaling intense buying by traders.
Meanwhile, Bitcoin taker buy volume saw “two consecutive large hourly buy-volume spikes on Binance of approximately $1.19 billion and $792 million,” CryptoQuant analyst Amr Taha said in a Quicktake note on Monday, adding:
“When this type of volume appears near a major breakout level, it often shows that traders are not waiting for a pullback; instead, they are chasing confirmation as the price moves higher.”
Bitcoin taker buy volume on Binance. Source: CryptoQuant
BTC bulls target $84,000 next
As Cointelegraph reported, Bitcoin bulls were required to push above $80,000 to sustain the upward momentum.
Bitcoin’s 5.5% rally over the last five days saw the BTC/USD pair reclaim key support levels, including the true market mean at $77,500 and the short-term holder cost basis around $78,000.
Traders now shifted their focus to the CME gap at $84,000, formed in early February.
BTC/USD four-hour chart. Source: X/AlphaBTC
Bitcoin is on “its way to close the previous large gap from $84K,” trader Daan Crypto Trades said in a Monday post on X, adding
“Good to mark these levels on your chart as they could act as ‘magnets’ and local reversal zones if price trades close/into them.”
Meanwhile, Bitcoin’s 30-day liquidation map reveals that a break above $84,000 would trigger over $2.85 billion worth of leveraged short liquidations across all exchanges.
Bitcoin exchange liquidation map. Source: CoinGlass
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.
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