Several Bitcoin (BTC) data points suggest that $80,000 will be the next target for the cryptocurrency. Bitcoin gained 2.52% to reach above $78,800 on Friday after maintaining support at the 100-day exponential moving average. Spot market purchase volumes also increased, while cumulative volume delta (CVD) reached 11,500 BTC, the highest level since February 17.
BTC futures activity is increasing, with open interest increasing by 6.64% to 257,000 BTC, indicating up-to-date positioning.
Bitcoin’s daily trend recovery shows fresh positioning
Bitcoin has rebounded from its 100-day exponential moving average (100-EMA) after retesting the daily trend over the past two days. The move pushed the price up 2.52% to $78,800 on Friday, keeping the short-term uptrend intact.
The 100-day EMA, which is currently acting as active support on the daily chart, suggests that the higher time frame chart remains bullish.
BTC/USDT on the one-day chart. Source: Cointelegraph/TradingView
At the same time, demand on the spot market is increasing. Cumulative spot volume delta (CVD), which tracks net buying relative to selling, reached 11,500 BTC, a up-to-date high since February 17. This means that buyers are absorbing supply during the recent decline.
Derivatives positioning evolves with price, indicating up-to-date participation. Aggregate open interest increased by 6.64% to 257,000 BTC over the last 24 hours, indicating that up-to-date positions are being added as Bitcoin consolidates below $80,000.
BTC price, spot and CVD futures. source: Velo
This follows a recent leverage effect of approximately 9,000 BTC, suggesting that excess positioning has been removed as the leveraged market recovers.
CVD futures add further context. Futures volume increased to 98,300 BTC, signaling the return of net buying pressure. However, it remains below levels seen during the April 27 correction, suggesting investor positioning is still developing.
At the same time, liquidity remains in the $78,000-$80,000 range, with risky low positions standing at $2.1 billion, which could lead to tighter positions near a key level.
Bitcoin liquidation heat map. Source: CoinGlass
Related: Bitcoin ETFs draw $2 billion in April with highest monthly inflows this year
Demand for BTC from institutions is narrowing the available supply
BTC’s institutional activities continue to rely on support. The 30-day change in OTC office balances has declined to approximately -20,700 BTC, on par with levels last seen in March 2025. Lower Balances indicate BTC is withdrawing from desks, limiting the available supply immediately.
Bitcoin: Total balance on the OTC desk. Source: CryptoQuant
Exchange-traded fund (ETF) flows show a similar pattern. With ETF flows reaching $1.97 billion in April. Bitcoin Econometrics Research Bulletin excellent nine-day streak of inflows, the longest in 2026
Econometrics explained that while the inflow rate is moderate, consistency has improved, adding:
“The last time flows showed this kind of persistence was just before the peak in October 2025. I’m not saying we’re there yet, but it shows that the direction is better.”
In the low term, the focus is on how long the flows persist and whether liquidity above $80,000 declines as spot, futures and institutional participation increases.
A good run of ETF inflows for Bitcoin. Source: Ekinometria/X
Related: Bitcoin’s Cost Base of $75K USD becomes a key support zone for the current bull trend
