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Bitcoin Tested the $82,000 Level
On May 11, the price of the leading cryptocurrency briefly climbed above $82,200. Bitcoin reached its highest level since the beginning of the month amid continued institutional capital inflows.
Hourly chart of $BTC/USDT on Binance. Source: TradingView.
At the time of writing, digital gold is trading at $80,859 (+0.1% over the past 24 hours).
Analysts at Zeus Research attributed the rise to strong demand for spot Bitcoin ETFs and improving macroeconomic conditions.
According to SoSoValue, net inflows into crypto funds reached $622.75 million last week. Positive momentum has now continued for six consecutive weeks, during which investors allocated more than $3.4 billion into these products.
Source: SoSoValue.
Additional support came from progress surrounding the CLARITY Act. Hearings on the bill in the relevant U.S. Senate committee are scheduled for May 14.
Bitrue Research Institute noted that reduced political tensions in the Middle East also contributed to lower market volatility. However, analysts warned about potential corrections toward the $78,000–$80,000 range if buying momentum weakens.
Among altcoins, $SUI emerged as the top performer. The token surged 20% over the past day, reaching $1.27.
Hourly chart of $SUI/USDT on Binance. Source: TradingView.
The rally was likely driven by the decision of $SUI Group to stake 108.7 million tokens, reducing available market supply. Investor interest was also boosted by the launch of CME futures and a partnership with fintech company Paga focused on cross-border payments.
Meanwhile, $XRP broke through the multi-week resistance level at $1.45. The move was accompanied by a sharp increase in trading volume, signaling heightened activity from large market participants.
Hourly chart of $XRP/USDT on Binance. Source: TradingView.
The asset started its upward move from the $1.41 range. Within an hour, trading volume exceeded $169 million, while the price reached a local high of $1.507 before correcting back toward $1.45.
Analysts highlighted the importance of the breakout above $1.45, a level that had capped rallies since April. Elevated trading volume confirmed the strength of the move. However, momentum faded near the psychological $1.50 level.
Trader and analyst Michaël van de Poppe stated that altcoins still have substantial upside potential. According to him, most assets declined by around 90% compared to summer 2024 levels and are only beginning to recover.
He added that the market is showing early signs of a broader uptrend that could accelerate in the coming weeks, describing the upside potential as “massive.”
At the same time, the trader warned about possible sharp corrections. He recommended gradually increasing stablecoin exposure in portfolios to take advantage of future dips.
Van de Poppe also believes the current market cycle is far from over.
Short-Term Holders’ Profits
Unrealized profits held by Bitcoin short-term holders (STH) reached $19.25 billion amid the asset’s price recovery, according to analyst Zizcrypto.
STH refers to wallets holding coins for less than 155 days. While their profits are increasing, they remain significantly below previous peak levels. For comparison, unrealized STH profits stood at $50.16 billion in October 2025 and $28.35 billion in January 2026.
According to the analyst, active selling zones may now form at lower profit levels than in previous cycles. This suggests the market does not necessarily need to revisit extreme profit conditions before a correction begins.
The current setup still points to room for additional upside. However, as the rally continues, newer Bitcoin holders may become increasingly sensitive to price fluctuations.
Zizcrypto emphasized that rising profits alone do not automatically signal immediate selling pressure. Nevertheless, the behavior of short-term holders could become a key factor shaping the market during any further recovery phase.
See also: "Bitcoin Stabilizes Near $81K Amid Rising Tensions With Iran"
