PANews reported on May 4th that QCP Capital analysis indicates that Bitcoin, building on its stable performance in April, continued its strong upward trend in early May, with the price breaking $80,000 for the first time since January 31st. Even with Strategy Capital suspending its Bitcoin buyback program this week, BTC continued its steady rise, suggesting that market momentum is shifting away from solely relying on the narrative of hoarding and towards support from diversified funding sources.

Spot ETFs continued to contribute positively, with a total net inflow of approximately $163 million last week, consistently providing support to the market. In the short term, whether Bitcoin can effectively hold above the $82,000-$83,000 CME gap range will determine whether this upward trend can continue, and this range has become a key watershed for the strength of the market at this stage.