Bitcoin faces $80,000 test amid whale and ETF buying

Bitcoin's price is approaching a critical $80,000 level, driven by significant buying activity from both large holders ('whales') and institutional investors through Bitcoin ETFs. This surge suggests growing confidence in the cryptocurrency's upward momentum. However, challenges remain, as JPMorgan notes that ongoing decentralized finance (DeFi) exploits and a lack of growth in total value locked (TVL) continue to hinder broader institutional adoption. The market is closely watching whether this rally can overcome these persistent concerns and sustain its upward trajectory past the key resistance point.