Bitcoin Rises Above $77,000 But Remains Trapped Between $75,000 And $80,000

Bitcoin traded in a tight band as it rose above $77,000 but stayed range-bound, with CoinDesk saying BTC rose to $77,111.57 and “rose 1.25% since midnight UTC to trade at $77,250.”

“Bitcoin ticks higher, but remains range-bound as traders keep short bias BTC rises to $77,000 after holding $75,000 support, but negative funding, unchanged open interest and cautious positioning signal a lack of conviction”

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The same CoinDesk account described the market as trapped “between $75,000 and $80,000 since April 19,” and it linked that confinement to derivatives positioning that lacked conviction.

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CoinDesk also pointed to “negative funding rates on futures exchanges” as a sign that “traders are generally positioned for a decline,” while WEEX similarly said futures funding rates are “mostly negative” and that traders “prefer to short at highs.”

WEEX added that open interest in Bitcoin futures is “about $19 billion, remaining basically flat week-over-week,” and it put the “3-month annualized basis” at “1.5%.”

Options positioning looked different across the two accounts: CoinDesk said “put/call volume over the past 24 hours is 58% in favor of calls,” while WEEX said “58% of the options traded in the past 24 hours being call options.”

Even with the price uptick, CoinDesk emphasized that the move did not reflect broad conviction, describing the bounce as occurring after bitcoin “found support at $75,000” and then becoming “trapped between $75,000 and $80,000 since April 19.”

CoinDesk tied bitcoin’s short-term behavior to macro conditions and shifting expectations around rates, saying crypto remained under “short-term pressure” even as it bounced with broader risk assets.

In CoinDesk’s “Daybook” excerpt for May 1, 2026, the newsletter said Bitcoin “climbed to $77,400” alongside a “broader rebound in risk assets” after “strong earnings from major U.S. tech companies.”

CoinDesk

It then described the bounce as relief rather than conviction, stating that “the bounce so far reflects relief buying rather than conviction that a new rally has begun.”

The same CoinDesk account attributed ongoing pressure to “reduced rate-cut expectations, spot bitcoin ETF outflows and heightened geopolitical risk, particularly around oil and the Strait of Hormuz.”

It also reported that the Federal Reserve “kept rates at 3.50% to 3.75% this week,” while noting that “the four dissenting voices are the most since 1992.”

CoinDesk’s macro linkage ran through oil, saying “Oil remains a key factor” and that higher crude prices from the Iran conflict and disruption in the Strait of Hormuz could feed inflation and make central banks less willing to cut.

It further said “Oil prices climbed Friday” and that the Brent crude contract for June “hit a four-year high of $126.41 before settling at $114.01,” while West Texas Intermediate futures for June “added 0.45% to $105.54.”

While CoinDesk emphasized short-term pressure, other crypto market writeups focused on institutional demand and technical triggers that could change the near-term direction.

“Bitcoin bounces as big tech earnings fuel optimism; short-term pressures remain Your day-ahead look for May 1, 2026 What to know: - Bitcoin climbed to about $77,400 alongside a broader rebound in risk assets after strong earnings from major U”

CoinDesk

A separate “Bitcoin Analysis” piece said Bitcoin was extending a “three-session winning streak” and returning to “multi-month highs above the $90,000 zone,” framing the move as supported by “reactivation of institutional demand in the short term.”

That same article pointed to ETF flows and derivatives, saying “in the early readings of this week there has been a capital inflow exceeding $100 million, corresponding to January 12,” and it described that as breaking “the run of outflows that had been dominating the institutional market.”

It also said open interest “has resumed a positive slope, showing sustained growth toward the $30.6 billion area,” and it interpreted that as an increase in liquidity and appeal in the derivatives market.

The technical section in that article set a ceiling and floor for a broader range, stating that “Since late November, Bitcoin has maintained a well-defined sideways range, with a ceiling around $93,000 and a floor near $85,000.”

It then listed key levels including “92,956 – Relevant resistance” and “89,874 – Nearby barrier,” while also calling out “85,434 – Definitive support.”

In contrast, Traders Union described a different support focus, saying “the $69,800 support takes center stage as BTC falls 1.19%,” and it reported BTC at “$70,859.96” with the asset “remains above both the MA-20 ($69,159.33) and the MA-50 ($69,158.98).”

Another thread in the reporting focused less on macro and more on market microstructure, warning that price gains without participation could weaken the move.

Bitget’s “Bitcoin Price Rises as Volume Drops—What’s Next?” said Bitcoin was “rising despite falling trading volume,” and it framed the divergence as a potential warning sign.

FOREX

The Bitget piece said “Weak volume may signal a potential trend reversal,” and it described the setup as “classic warning sign that something bigger could be around the corner.”

It also explained why volume matters, stating that “Volume is one of the most important indicators in technical analysis,” and that “In a healthy uptrend, rising prices are usually accompanied by increasing volume.”

The article laid out two scenarios, saying “First, Bitcoin could continue climbing, but it would need a surge in volume to confirm a strong breakout,” while “Second, the market could see a correction.”

It warned that “Low volume rallies sometimes act as “fakeouts,” where prices rise briefly before reversing sharply,” and it said traders “often wait for confirmation signals before making big moves in such conditions.”

In parallel, DiarioBitcoin described a rebound but emphasized low conviction, reporting “Daily volume -25% vs 30-day average” and stating “Reduced participation limits upside conviction.”

Across the different accounts, the reporting also tracked what happens if the range breaks, including liquidation levels and token-specific moves.

“Bitcoin is currently extending a three-session winning streak, during which the price has risen more than 3%, returning to multi-month highs above the $90,000 zone”

FOREX

CoinDesk’s range-bound framing included derivatives stress metrics, saying CoinGlass data showed “$149 million in 24-hour liquidations,” with “BTC ($50 million) and ETH ($29 million) led in terms of notional liquidations.”

WEEX

It also referenced a specific liquidation level from Binance, stating that the “Binance liquidation heatmap indicates $75,400 as a core liquidation level to monitor in the event of a price drop.”

CoinDesk’s same piece described options and volatility conditions, saying the implied volatility term structure was “in contango,” with “the front-end around 29% rising to ~45% at the March '27 tenor.”

It also reported that the CoinDesk Memecoin Index (CDMEME) “surging by 1.8%,” while the CoinDesk Computing Select Index (CPUS) “added 1.4%,” and it said Monad (MON) “rallying by 6.7% over 24 hours.”

CoinDesk also singled out a governance-linked move in WLFI$, stating it “dropped by more than 2.6% since midnight following a governance vote on token lock-ups,” and it added that “It has now lost more than 77% since it was introduced in September.”

In a separate technical rebound writeup, DiarioBitcoin gave a concrete risk-management posture, recommending “Recommendation: HOLD” and describing “Concrete action: hold long positions with a stop-loss at USD $66,500” and “allocate 20% of the portfolio to dips above USD $67,200.”