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Bitcoin briefly climbed above $82,000 on Thursday after the US Senate Banking Committee advanced the Digital Asset Market Clarity Act in a 15-9 bipartisan vote, prompting a sharp move across crypto markets as traders reacted to signs of regulatory progress in Washington.
The move triggered more than $100 million in short liquidations within hours and added roughly $77 billion to the total crypto market capitalization, according to market data shared by Bull Theory. Bitcoin later pulled back alongside profit-taking and was trading at $80,476.50 at the time of writing.
BREAKING: Bitcoin hits $82,000 after the Senate Banking Committee officially advanced the Clarity Act.
BTC is now up 3.6% in the last 5 hours, adding $58 billion to its market cap.
The total crypto market added $77 billion over the same period.
$100 million worth of shorts… pic.twitter.com/xNcitWY7RL
— Bull Theory (@BullTheoryio) May 14, 2026
The rally pushed Bitcoin into a major technical resistance zone between $81,900 and $82,200, an area closely tied to the 200-day exponential moving average. Previous breakout attempts near the same range failed to hold during the past several weeks, making Thursday’s move an important test for bullish momentum.
BTC still managed to defend the psychologically important $80,000 level after the initial breakout faded. Buyers repeatedly stepped in during recent dips below $80,000, reinforcing the zone as a key short-term support level.
Crypto analyst Michaël van de Poppe said Bitcoin’s 21-day moving average continues acting as support while momentum builds into next week. Independent trader Ted Pillows also noted that BTC could still target the $84,000 to $85,000 region if bulls maintain control above $80,000.
The markets are still looking great for #Bitcoin.
If this continues to find momentum going into next week, I would assume the breakout will happen then.
Other than that, the 21-MA is nicely holding up as support, if that breaks, then we're in the path of potential further… pic.twitter.com/uTjLSDFiKp
— Michaël van de Poppe (@CryptoMichNL) May 15, 2026
Not every signal points toward a clean breakout. Trader Lennaert Snyder warned that Bitcoin rejected local range highs near $82,065 and said failure to reclaim that level could expose the market to another retest near the upper $79,000 area.
That caution reflects broader uncertainty across momentum indicators. Hourly RSI readings remain above neutral levels, but MACD momentum has started fading after the sharp intraday move.
The stronger structural signal may be coming from on-chain supply data rather than short-term price action.
According to Santiment, Bitcoin held on exchanges has dropped to roughly 5.6% of the circulating supply, the lowest level recorded since 2018. Analysts often interpret falling exchange balances as a sign investors are moving coins into cold storage instead of preparing them for sale.
The trend has continued through 2024 and 2025 as Bitcoin increasingly behaves like a long-term treasury asset rather than a speculative trade. Exchange reserves are now at their lowest level since 2018, signaling continued accumulation by long-term holders despite volatility near all-time highs.
ETF demand also remains strong. Spot Bitcoin ETFs saw $131 million in net inflows on May 14, led by BlackRock’s IBIT, while Ethereum ETFs recorded a fourth straight day of outflows.
Spot Bitcoin ETFs Saw $131M in Net Inflows on May 14
On May 14 (ET), spot Bitcoin ETFs recorded total net inflows of $131 million, with BlackRock’s IBIT leading at $144 million in net inflows. Spot Ethereum ETFs saw total net outflows of $5.6511 million, marking the fourth… pic.twitter.com/FQ4nENOJZ9
— Wu Blockchain (@WuBlockchain) May 15, 2026
The divergence between Bitcoin and Ethereum has also appeared in exchange reserve data. Santiment data showed Ethereum exchange balances rising from 4.2% to 4.6% of circulating supply during the past 10 days. Analysts often attribute that difference to Ethereum’s heavier use across decentralized finance, staking, and liquidity strategies that require assets to remain more active on trading platforms and exchange-connected wallets.
Thursday’s move extended beyond Bitcoin itself.
Crypto-linked equities rallied after the Clarity Act vote as traders positioned for a potentially clearer regulatory framework in the United States. Coinbase shares climbed sharply during the session, while Strategy and several crypto infrastructure firms also advanced alongside the broader market.
While the bill still requires further votes, the committee approval marked a major step toward clearer US crypto regulation.
Still, some analysts remain cautious. CryptoTice noted that spot demand appears weaker than in previous bull cycles and warned that resistance near $86,000 could limit upside if inflows slow.
BITCOIN IS RALLYING WITHOUT CONVICTION. 🚨
Capital inflows still weak.
Overhead supply building at $86K.
Conviction nowhere near previous bull phases.This rally has the price movement.
But not the foundation.Real bull markets are built on spot demand.
On ETF inflows… pic.twitter.com/0C7aV484Np— Crypto Tice (@CryptoTice_) May 15, 2026
For now, traders are closely watching whether Bitcoin can hold above $80,000 and build momentum toward the $84,000 range as exchange reserves keep falling and ETF inflows stay positive.
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