CoinShares expects Bitcoin to remain range-bound for the time being, with $80,000 acting as resistance. The firm says the latest advance has been driven mainly by reduced expectations for further monetary tightening as U.S. inflation and employment growth slow, rather than by crypto-specific factors. Bitcoin whales (large cryptocurrency holders) have also resumed accumulation, but CoinShares says a sustained breakout would require the Federal Reserve to clearly move away from additional rate hikes.