Failure to sustain momentum above $80 could trigger a bearish reversal, with elevated interest rates and ETF outflows creating headwinds for speculative assets

"Macro conditions also remain a risk. Elevated U.S. interest rates continue to compete with speculative assets for institutional capital, while digital asset investment products have experienced intermittent ETF outflows in recent weeks. Any renewed deterioration in global risk appetite or delays to U.S. crypto legislation could reduce buying interest."