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Pantera says “smart money” is boosting bitcoin as it targets $80,000
Bitcoin rose more than 23% over the past week to about $77,412, with Pantera Capital pointing to possible resistance near $80,000.
Pantera Capital’s portfolio manager Cosmo Jiang said “smart money” is helping push bitcoin higher, in comments made during a Friday CNBC interview. He suggested the next resistance level could be around $80,000, while also noting a small pullback was possible.
The interview highlighted bitcoin’s surge this week, with the price recently at $77,412 after gaining more than 23% over the prior week. Earlier on Friday, bitcoin also reached as high as $79,319.
Bitcoin’s move has been tied in part to positive U.S. regulatory news, including a White House meeting where President Donald Trump urged lawmakers to pass the long-awaited Clarity Act. The proposed law aims to clarify which digital assets the SEC and CFTC would oversee, and the article says a vote is set for September.
Separately, the story links the rally to U.S. Treasury plans, saying Treasury Secretary Scott Bessent stated the department would at least double the size of its long-dated bond buybacks. Jiang also cited additional crypto fundamentals, including stablecoin adoption, prediction markets, perpetual futures, and “the crossover of AI.”
Latest closeBitcoin $78,270.49 ▲7.2%