[Coin Clip] Bitcoin shows signs of repeating Q4 2024 rally...Countdown to break $80,000

If Bitcoin (BTC) maintains the $77,500 level based on its month-end closing price, it will record its highest monthly increase in approximately one and a half years since Q4 2024, signaling the full-fledged revival of a bull market.

According to crypto media outlet Cointelegraph on April 24 (local time), Bitcoin has recorded a 14.3% increase so far this month, achieving its best performance since November 2024. Despite geopolitical risks and macroeconomic uncertainties, Bitcoin has surged by over $20,000 from its February low and is attempting to break out of its range. Notably, this month's gains slightly surpass the 14.1% performance recorded in April 2025.

The key driving force behind the rebound in the virtual asset market is the return of institutional investors. Over the past five days, U.S. Bitcoin spot ETFs have reportedly purchased approximately 19,000 BTC. Andre Dragosch, Head of European Research at virtual asset management firm Bitwise, analyzed that institutional buying volume was nine times the new supply during the same period. Dragosch assessed that institutional demand is clearly accelerating.

However, the strong resistance level formed around $80,000 remains a variable. Virtual asset trader Daan Crypto Trades analyzed that while Bitcoin maintained an upward trend throughout April, a definitive trend reversal would only be possible by breaking through the high-timeframe resistance above $80,000. Downside support levels were suggested at $72,000 and $65,000.

Market participants are focusing on the month-end closing price to gauge the possibility of further gains. Considering the open interest and fund inflows into exchanges, Bitcoin appears to be attempting to replicate the explosive rally of Q4 2024. Amid intensifying supply shortages, the prevailing assessment is that large institutions' accumulation is solidly building support levels.

Bitcoin is currently surpassing the crucial inflection point of $77,500, strengthening market optimism. If this month's closing price concludes successfully, it is expected to pave the way not only for reclaiming $80,000 but also for setting new all-time highs. Overwhelming institutional demand relative to supply is driving price increases and writing a new history for the virtual asset market.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*

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