- Bitcoin’s price rebounded 2.52% to above $78,800 on Friday, holding support at its 100-day exponential moving average and signaling a bullish higher time-frame trend.
- Spot market buying pressure reached its highest level since February, with the Cumulative Volume Delta at 11,500 BTC, while futures open interest rose 6.64% to 257,000 BTC, indicating fresh positioning.
- Institutional demand is tightening supply, as OTC desk balances have fallen sharply and spot Bitcoin ETFs have seen nine consecutive days of inflows, the longest streak in 2026.
Bitcoin consolidated its recovery on Friday, trading above $78,800 after firmly holding the 100-day exponential moving average as dynamic support. Several on-chain and market data points now suggest the cryptocurrency’s next destination is the $80,000 level.
Spot market buying volumes have strengthened significantly during the recent consolidation. Consequently, the cumulative volume delta reached 11,500 BTC, its highest level since February 17, indicating buyers are absorbing supply.
Futures activity is also picking up alongside the price. Meanwhile, aggregated open interest has risen 6.64% to 257,000 BTC over 24 hours, pointing to fresh derivative positioning as Bitcoin consolidates below $80,000.
Liquidity continues to cluster heavily in the $78,000–$80,000 range. This creates a potential catalyst, with $2.1 billion in short positions at risk of a squeeze near the key level.
Institutional activity continues to lean supportive for BTC. The 30-day change in OTC desk balances has fallen to around -20,700 BTC, matching levels last seen in March 2025 and reducing immediately available supply.
Spot Bitcoin ETF flows reached $1.97 billion in April for the highest monthly inflows this year. Ecoinometrics noted a nine-day inflow streak, the longest in 2026, stating, “The last time flows showed this kind of persistence was right before the October 2025 peak.”
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