Bitcoin Price News: BTC Back Above $78K – $630M ETF Inflow Changes Everything

Bitcoin keeps pushing higher. On May 2, BTC rose another 1.3% and now trades above $78,000. Earlier this week, price dipped below $76,000. Buyers stepped in each time. Right now, Bitcoin holds positive momentum.

We already explained in our previous Bitcoin price news, that BTC’s sell in May” myth might not happen, but let’s understand what’s actually going on right now around Bitcoin.

Liquidations Jump 95% – Shorts Get Crushed, Big Day for Bitcoin ETFs

The market saw $100.89 million in Bitcoin liquidations over 24 hours. That’s a 95.74% increase from $83.23 million. This was a short squeeze, which pushed prices higher. At the same time, perpetual open interest fell 4.03%, meaning speculative leverage dropped. Traders got burned, and leverage cooled off.

May 1 (ET) was a massive day for crypto ETFs. According to SoSoValue data, U.S. Bitcoin spot ETFs recorded total net inflows of $630 million. Ethereum spot ETFs also saw green, with $101 million in net inflows.

That’s the kind of institutional demand that moves markets. If this keeps up, BTC has fuel for the next leg up.

Dan Gambardello’s Take: Clarity Act Deal Is Done

Crypto analyst Dan Gambardello posted a video on May 1. He’s bullish on the CLARITY Act – major U.S. crypto legislation. A compromise on the bill was reached. Senators Tillis and Alsobrooks worked out the final details. The main sticking point was stablecoin yield. That part took a hit. The bill now bans or tightly restricts passive interest or yield on stablecoins. Banks and lobbyists pushed hard for this concession.

But Dan says everything else remains strong. Here’s what’s still intact:

• Ends years of SEC regulation‑by‑enforcement uncertainty.
• Clearly defines digital commodities versus securities.
• Gives CFTC jurisdiction over spot digital commodity markets.
• Provides safe harbors for truly decentralized DeFi protocols.
• Clarifies that staking rewards are not securities offerings.
• Creates registration pathways for exchanges, brokers, and intermediaries.
• Lets institutional investors enter U.S. crypto markets with more confidence.
• Strengthens U.S. competitiveness against offshore crypto hubs.

Dan emphasizes these benefits far outweigh the stablecoin yield concession.

Timeline

• Markup in the Senate Banking Committee: Week of May 11, 2026.
• Senate floor vote: June or July 2026.
• Expected to reach Trump’s desk: summer 2026.

Dan put this on a Bitcoin chart. The GENIUS Act passed near the cycle top in late 2025. The CLARITY Act is now likely to pass near the cycle bottom – right now in 2026. He sees this as an extremely bullish setup. Regulatory clarity arrives while prices are still relatively depressed. That removes excuses for institutions. It could spark the next leg up.

Related news: Bitcoin and Ethereum Price Alert: CLARITY Act Blocked by Trump Ethics Demands

Short-Term Bitcoin Price Outlook

The immediate path hinges on institutional flows. If daily ETF inflows continue, Bitcoin will likely challenge the key $80,000 resistance. The next critical support is the $77,000 zone, which aligns with the 7-day simple moving average. A break below $77,000 could trigger a deeper pullback toward $75,000.

What it means: the bias is cautiously bullish, but it depends on sustained ETF buying.

Watch for a decisive weekly close above $78,500. That would confirm strength for a run at $80,000.

Read also: ChatGPT Predicts XRP and Bitcoin Prices If the Clarity Act Fails

FAQs

Is Bitcoin going to go back up

Yes, the setup looks positive. Strong ETF inflows, a short squeeze, and regulatory progress point higher, but markets always carry risk.

Why is BTC up today

An $83 million short squeeze pushed prices higher. At the same time, Bitcoin ETFs pulled in $630 million in fresh inflows.

What is the point of a Bitcoin ETF

It lets regular investors buy Bitcoin exposure through their stock brokerage account. No need to manage wallets, private keys, or crypto exchange accounts.