The crypto market is showing strong upward momentum, with Bitcoin hitting $80,000 and several altcoins such as Ethereum, XRP, Dogecoin, Zcash, and Terra Luna Classic (LUNC) posting notable gains today.
The Crypto Fear & Greed Index improved to neutral sentiment on rising CLARITY Act odds, robust ETF inflows, and early bull market predictions by analysts have triggered a rally.
Bitcoin Hits 80,000 amid Short Liquidations in XRP, Dogecoin, Zcash, and LUNC
Bitcoin surpassed the key $80,000 level to hit a high of $80,596, rising almost 3% over the past 24 hours. It is supported by a massive 114% rise in trading volume.
The total crypto market cap climbed almost 2% amid institutional demand and strong spot Bitcoin ETFs inflows of around $630 million on the last trading day to signal renewed investor confidence.
White House crypto adviser Patrick Witt signaled advances for a long-awaited CLARITY Act, with lawmakers eyeing a markup in May following a stablecoin yield compromise.
According to a Reuters report on May 4, President Trump said the US will help stranded ships leave the Strait of Hormuz. Easing geopolitical tensions has reduced selling pressure and encouraged short squeezes.
The crypto market recorded over $302 million in short liquidations today. Bitcoin, Dogecoin, XRP, Zcash, and Terra Luna Classic (LUNC) saw massive liquidations. According to CoinGlass data, nearly 110K traders were liquidated, with a total liquidation of $370 million in 24 hours.
Top Experts Predict Further Upside
Bitcoin retraces to trade at $79,845 after profit booking in the last few hours. The 24-hour low and high are $78,281 and $80,596, respectively. However, experts signal further upside in Bitcoin and broader crypto market.
Cypherpunk and Blockstream CEO Adam Back put the spotlight on BTC 200-week moving average surpassing $60K. On the weekly chart, Bitcoin flashes bottom signals as it continues to hold above the 10-year ascending trendline, which historically suggested the bottom.
#bitcoin 200wma passes $60khttps://t.co/h6D8LTnC8B pic.twitter.com/bG1z8SDWpZ
— Adam Back (@adam3us) May 4, 2026
As CoinGape reported earlier, Grayscale Research signaled Bitcoin bottomed in the $65,000-$70,000 range. The Bitcoin Bull Index also turned neutral for the first time in six months, per CryptoQuant research head Julio Moreno.
BIT (formely Matrixport) said investors make more returns by investing when sentiment is negative. The firm added that sentiment is high but still has room to run. BIT predicts further upside as long as the Greed & Fear Index trend higher.
10x Research said “Bitcoin just triggered the first of our bull market signals, and the medium-term technical picture is improving faster than most realize.” Two consecutive months of positive returns, rising ETF inflows, and funding rates point to a market with significant room to run.
However, Bitcoin options are flashing a slight warning, while Ethereum options are telling a more cautious story. Moreover, a divided Fed, overbought equity markets, and the US-Iran peace talks risks could impact the bullish thesis.
Dogecoin jumped more than 4% to extend the weekly rally to over 15%. It benefits from broader crypto market strength and X cashtags for Dogecoin, XRP and other crypto assets.
XRP reclaims $1.41 amid positive ETF flows, CLARITY Act markup hopes, and huge whale accumulations. As CoinGape reported earlier, XRP poised for a rally as on-chain data indicated supply shock on Binance.
Zcash (ZEC) and LUNC are recording massive rallies in the last few days, with Terra Luna Classic skyrocketed 60% over the past week. Endorsements from Grayscale’s Barry Silbert and Arthur Hayes’ $400 prediction for Zcash triggered further rebound.
Terra Luna Classic (LUNC) rocketed more than 7% today, currently trading at $0.0000924. Binance’s LUNC token burn, Software upgrade v4.0.1, and community-driven volatility continue to fuel positive sentiment.
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