💰 Bitcoin Overview: May 10 - Whales' Hidden Accumulation and the Battle for Breakeven Zone
📈 Bitcoin has secured a position above $80,000, nearing the short-term holders' (STH) cost base at $81,300. Spot Bitcoin ETFs have recorded a net inflow for the sixth consecutive week. However, the external environment remains tense due to instability in the Middle East, which is dampening risk appetite in traditional markets.
📊 Over the past day, Bitcoin (BTC) continued its recovery after a correction to local lows, trading around $80,666 at the time of publication. Analysts note a steady increase in the average size of spot orders, indicating that whales are continuing to accumulate positions discreetly. The derivatives market remains overheated, with open interest holding at high levels amid predominantly negative funding rates, creating conditions for sharp cascade liquidations during impulsive breaks of key levels.
🌍 Investors are pricing in risks associated with international instability. Rumors surrounding the Project Freedom operation threaten the fragile ceasefire in the Middle East, causing the S&P 500 to retreat from historical highs. The cryptocurrency market is maintaining resilience largely due to institutional demand. Six weeks of continuous inflows into American spot ETFs are mitigating selling pressure and partially offsetting macroeconomic negativity.