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.
Bitcoin's 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.
BTC/USDT on the one-day chart. Source: Cointelegraph/TradingView
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 being added as Bitcoin consolidates below $80,000.
BTC price, spot, and futures CVD. Source: Velo
This follows a recent leverage flush of roughly 9,000 BTC, suggesting that excess positioning has been cleared as the leveraged market rebuilds.
The futures CVD adds further context. Futures volume has recovered to 98,300 BTC, signaling a return of net buying pressure. However, it remains below the levels seen during the April 27 correction, suggesting trader positioning is still developing.
At the same time, liquidity continues to cluster in the $78,000–$80,000 range, with $2.1 billion in short positions at risk, which could lead to a short squeeze near the key level.
Bitcoin liquidation heatmap. Source: CoinGlass
Related: Bitcoin ETFs draw $2B in April for highest monthly inflows this year
BTC demand from institutions tightens the available supply
BTC institutional activity continues to lean supportive. The 30-day change in OTC desk balances has fallen to around -20,700 BTC, matching levels last seen in March 2025. The lower balances indicate BTC moving off desks, reducing the immediately available supply.
Bitcoin: Total OTC desk balance. Source: CryptoQuant
The exchange-traded fund (ETF) flows show a similar pattern. With ETF flows reaching $1.97 billion in April. Bitcoin research newsletter Ecoinometrics noted a nine-day streak of inflows, the longest in 2026.
Ecoinometrics explained that while the pace of inflows is moderate, the consistency has improved, adding,
“The last time flows showed this kind of persistence was right before the October 2025 peak. Not saying we’re there yet, but it tells you the direction is improving.”
The near-term focus is on how long flows sustain themselves and whether liquidity above $80,000 thins as spot, futures, and institutional participation increase.
ETF inflow streak improves for Bitcoin. Source: Ecoinometrics/X
Related: Bitcoin’s $75K cost basis emerges as key support zone for current bull trend
