Analyst: Bitcoin briefly breached $81,000 driven by US crypto bill
Tokocrypto analyst Fyqieh Fachrur noted that Bitcoin’s price, which briefly touched $81,511.13 last Friday (15/5/2026), was influenced by positive sentiment from the proposed CLARITY Act, which is viewed as pro-crypto industry. The CLARITY Act was approved by the U.S. Senate Banking Committee with a 15-9 vote on 14 May 2026. This legislative progress is seen as a vital step in providing legal certainty for the digital asset industry, particularly regarding the division of authority between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in overseeing crypto assets.
Speaking in Jakarta on Monday, Fachrur stated that this Bitcoin rally is not merely a technical rally but is also driven by a shift in risk perception among institutional investors. “The market views the progress of the CLARITY Act as a signal that the direction of crypto regulation in the US is moving towards a clearer phase. Until now, regulatory uncertainty has been one of the biggest hurdles for institutional investors. When concrete developments occur, market participants respond immediately by increasing their exposure to Bitcoin,” he said.
In addition to regulatory factors, the surge in Bitcoin’s price was bolstered by pressure from the derivatives market. Data shows that Bitcoin open interest jumped by 37.14 per cent within 24 hours, while short positions worth approximately $71.02 million were liquidated. This condition triggered a short squeeze, a situation where traders betting on a price decrease are forced to buy back assets to close their positions, thereby driving prices up more rapidly. Fachrur explained that the combination of regulatory sentiment and short position pressure made the Bitcoin rally more aggressive in the short term.
Technically, Bitcoin is currently in a critical area near the 200-day simple moving average (SMA) at around $82,455. A daily close above this level could open opportunities for further strengthening towards the Fibonacci extension target in the $85,102 range. However, Bitcoin needs to maintain the support area between $80,000 and $80,458 to keep the bullish momentum intact. A drop below $78,000 could trigger liquidations of long positions worth up to approximately $1 billion and open the risk of a correction towards the $70,000 area.
“The $80,000 level is a very important psychological boundary. As long as Bitcoin can remain above that area, the opportunity for a retest to $85,000 remains open. However, investors need to be wary of volatility because high open interest can amplify price movements in both directions,” said Fachrur.
On the other hand, the medium-term outlook for Bitcoin is also supported by the recovery of institutional interest through spot Bitcoin ETFs. ETF inflows returning to positive territory after a period of outflows is seen as a signal that large investors are beginning to rebuild positions. Spot ETF products have a direct impact on Bitcoin demand because ETF issuers must hold actual Bitcoin (BTC) assets.
In addition to ETFs, whale investor activity is also drawing market attention. On-chain data shows that whale addresses holding between 10 and 10,000 BTC have accumulated more than 61,000 BTC in the last month. This accumulation pattern is often regarded as an indication that large investors see current price levels as an entry opportunity before potential major movements.
Fachrur stated that whale accumulation and ETF inflows are two important indicators for measuring the strength of Bitcoin’s rally moving forward. “If ETF inflows continue and whales keep increasing their holdings, Bitcoin will have a stronger demand foundation. However, the market still requires further confirmation, especially from US regulatory developments and the ability of the price to break through the main resistance above $82,000,” he explained.
In the short term, market participants will closely monitor the continued progress of the CLARITY Act towards a full vote in the US Senate. If the proposed rules receive broader support, institutional sentiment towards crypto assets could strengthen further. The combination of regulatory catalysts, short squeezes, potential ETF inflows, and whale accumulation places Bitcoin in a crucial phase. While the bullish momentum remains open, technical confirmation above $82,455 will determine whether the rally continues towards $85,000 or turns into a bull trap.