Bitfinex: Bitcoin Rally Tied to Spot Demand Shift as U.S. Data Gets Priced In

Bitcoin's latest move higher is being attributed to stronger spot buying after demand indicators flipped from contraction to growth as markets processed U.S. economic data. BTC broke above $80,000 by early May, traded near $80,900 at publication time, and briefly approached $83,000 after clearing the $78,000–$79,000 supply zone. On-chain spot CVD jumped after May 8, while analysts say conviction buyers now hold roughly 4 million BTC.