Bitcoin is consolidating around $77K amid record ETF inflows and declining exchange reserves, but geopolitical risks around Iran are capping upside, forming a range with potential targets at $80–85K.

Institutional demand provides support: BTC ETF inflows exceeded $2.2B in April (IBIT +$1.9B), bolstering price; exchange reserves ~2.7M BTC (2026 lows,
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