Bitcoin Demand, Spot And Institutional Flows Increase As Bulls Chase $80K
Several Bitcoin (BTC) data points suggest that $80,000 is the next destination for the cryptocurrency. Bitcoin gained 2.52% to trade above $78,800 on Friday after holding support at the 100-day exponential moving average. Spot market buy volumes also strengthened while the cumulative volume delta (CVD) reached 11,500 BTC, its highest level since Feb. 17. BTC futures activity is picking up, with the open interest rising 6.64% to 257,000 BTC, indicating fresh positioning. Bitcoins daily trend recovery shows fresh positioning Bitcoin rebounded from its 100-day exponential moving average (100-EMA) after retesting the daily trend over the past two days. The move lifted the price by 2.52% to $78,800 on Friday, holding the short-term uptrend intact. The 100-day EMA, currently acting as dynamic support on the daily chart, suggests that the higher time-frame chart remains bullish. The spot demand is strengthening at the same time. The spot cumulative volume delta (CVD), which tracks net buying versus selling, reached 11,500 BTC, a new high since Feb. 17. This indicates buyers are absorbing the supply during the recent dip. Derivatives positioning is expanding in tandem with price, pointing to fresh participation. The aggregated open interest has risen 6.64% to 257,000 BTC over the past 24 hours, indicating new positions are