- Bitcoin traded above $78,800 after holding the 100-day EMA, while spot CVD rose to 11,500 BTC, its highest since February 17.
- Bitcoin targets $86K–$88K first, with $95K next if it holds momentum near the 50-week moving average.
Bitcoin bulls are pushing back after the price held a key trend support and moved closer to the $80,000 level. The latest market data shows BTC trading above $78,800 after a 2.52% daily gain, with buyers defending the 100-day exponential moving average. That level has now become an important short-term marker for traders watching whether Bitcoin can reclaim $80,000.
The recovery comes as spot buying, futures positioning, and institutional demand all move in the same direction. Spot market activity has improved, while cumulative volume delta has climbed to 11,500 BTC, its highest level since February 17. This shows that buyers have absorbed supply during the recent pullback.
Bitcoin’s daily chart also shows a stronger structure after the price bounced from the 100-day EMA. The move kept the broader daily trend intact and brought the market back near the upper side of its recent range. Traders are now watching the $78,000 to $80,000 zone, where liquidity remains dense and short positions face growing pressure.
Futures data adds another layer to the bullish setup. Open interest has increased 6.64% to 257,000 BTC in the last 24 hours, with new positions entering the market as Bitcoin stagnates below $80,000.
The market has also cleared part of its excess leverage after a recent flush of nearly 9,000 BTC. That reset reduced overcrowded positioning and gave traders room to rebuild exposure. Futures volume has recovered to 98,300 BTC, showing that derivatives traders are returning.
Spot Demand and ETF Flows Support Bitcoin
Institutional demand remains another key part of the current Bitcoin setup. OTC desk balances are down approximately 20,700 BTC on a 30-day basis; the last time they were that low was in March 2025. A decreasing OTC balance indicates the migration of coins off the desks and a smaller supply for large-scale transactions.
ETF flows are also supporting the market. Bitcoin ETFs recorded about $1.97 billion in April inflows, while Ecoinometrics noted a nine-day inflow streak, the longest run seen in 2026. The steady flow of capital gives traders another reason to monitor whether Bitcoin can break cleanly above $80,000.
Analyst Michaël van de Poppe also said Bitcoin looks ready for an upward break after a strong start to the month. According to the analyst, fresh ETF inflows often create early-month price strength before the market cools slightly later in the month. He said this pattern has become a standard setup when new inflows enter Bitcoin products.
Van de Poppe placed his next resistance targets at $86,000 to $88,000, followed by the 50-week moving average near $93,000 to $95,000. He added that a move into that higher zone would suggest the bear market phase has ended.
