Bitcoin hits 10-week high as trader eyes $88K in coming weeks

Bitcoin moved to ten-week highs near $77,000 on Bitstamp as the market readied for the weekly close and weighed the potential for a broader rally back toward the upper end of the $80,000s. The price action came amid a broader risk-on environment, with equities and macro indicators pointing to a calmer backdrop after weeks of volatility driven by geopolitical and supply concerns.

Data from TradingView confirmed BTC briefly topping $77,027, its highest level in roughly two and a half months. The move coincided with a surge in stock benchmarks, as the S&P 500 reached a level of about 7,050 points on Thursday—the first time the index has traded at that mark and sealing its highest-ever close, marking a second all-time high for the week. In crypto markets, the mood shifted toward relief as geopolitical tensions appeared to ease, supporting appetite for risk assets overall.

Meanwhile, traders watched how on-chain liquidity and market structure might shape the next leg. Prominent voices in the space highlighted the role of growing interest from institutional players and the potential for spot BTC ETFs to attract new inflows as macro volatility declines.

“As long as the VIX continues to fall, and we’re in a new equilibrium where oil volatility and gold volatility drop, we should see renewed interest from allocators toward Bitcoin,” wrote Michaël van de Poppe, a well-known trader, on X. He added that a shift in sentiment toward BTC ETFs could bring broader inflows into the space. In the same thread, he projected a path toward the mid-to-high $80,000s if momentum persists.

“What will you start to see? More inflows in the BTC ETF as allocators can allocate more towards Bitcoin.”

Late-week data from Farside Investors underscored that sentiment in the U.S. spot BTC market, noting that weekly inflows into US spot Bitcoin ETFs reached a net $330 million for the week-to-date. The prospect of sustained ETF demand, together with improving risk appetite, fed expectations that Bitcoin could accelerate its ascent in the coming weeks, potentially lifting other digital assets in tandem with BTC.

Van de Poppe reiterated a bullish short- to medium-term thesis, suggesting that if ETF demand and macro conditions hold, Bitcoin could advance toward the $85,000–$88,000 area within the next two to four weeks. He linked the potential rally to a reduction in macro-volatility alongside a cooling in broader market fear gauges, and to new ETF inflows that could unlock fresh capital allocation into the space.

On the chart, the analyst offered a technical view that aligns with a broader bullish scenario: the price could extend its gains so long as the market maintains constructive support above key levels. A separate trader, Rekt Capital, pointed to $72,800 as a pivotal daily close level for BTC/USD to sustain a weekly breakout above resistance around $72,810. He warned that failing to hold that level on dips could trap price in a deeper pullback toward the established weekly range.

“If Bitcoin wants to Weekly Close above the Weekly resistance ($72,810), then price would need to hold the blue level as support on any upcoming dip,” he explained. “The last time Bitcoin rejected from the black resistance in mid-March, price also lost the blue level as support. Which is why a Daily Close below the blue level after any upcoming dip could see price drop back into the blue-blue Weekly Range.”

In parallel, another perspective cautioned that volume dynamics could foreshadow a correction rather than a continuation of the rally. Trader Roman argued that declining trading volume into the highs signals fading momentum, while a high-volume move could push prices lower in a macro-downtrend environment. “We’re in a macro downtrend which when we see high volume continues downward. Low volume implies consolidation/correction to continue the overall trend,” Roman wrote, adding that the next high-volume move is likely to take BTC lower.

The near-term path for Bitcoin sits at a crossroads. On one hand, stronger ETF demand and easing macro volatility could deliver a fresh impulse for BTC and, by extension, for the broader crypto market. On the other hand, thin liquidity during rallies and the risk of a volume-led pullback remind traders to stay mindful of the potential for a test of key supports should momentum fade.

To put the current price action in context, observers have pointed to a broader spectrum of possible macro outcomes. Some analysts argue the market could see a deeper drawdown toward sub-$50,000 levels if macro risk resurges or if volume dries up and fails to sustain a breakout. That framing underscores the importance of watching not just price but also liquidity and institutional flow as Bitcoin navigates this phase of renewed attention from traders and investors alike.

In sum, Bitcoin’s attempt to extend gains beyond $77,000 comes at a moment when ETF inflows, macro calm, and selective risk appetite are aligning to push the narrative higher. While the path to $85,000–$88,000 remains contingent on ongoing demand and favorable technicals, the evolving dynamics around ETF participation and volume will likely shape the next few weeks as investors weigh what comes next for BTC and the wider crypto market.

This article is based on market data and commentary available as of the time of writing. Readers should note that crypto markets remain volatile, and outcomes depend on a range of evolving factors including policy, liquidity, and global risk sentiment.

This article was originally published as Bitcoin hits 10-week high as trader eyes $88K in coming weeks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.