Bitcoin (BTC) may have reclaimed $80,000, but one analyst warns that the move lacks the foundation to hold. On May 4, the top cryptocurrency finally managed to break past its $80,000 barrier. Not once, but twice. The first time it did was in the wee hours of Monday. However, it pulled back briefly and dropped to the zone of $78,000 as mixed reports of escalating crisis in the Strait of Hormuz spread. At press time, Bitcoin had recovered and was trading at $80,263, up 2.1% over the past 24 hours. Technical and on-chain analyst Ali Martinez, who posts as Ali Charts, flagged on X a sharp contraction in exchange ... (full story)