Bitcoin (BTC) hit a monthly high of $79,472 on Wednesday, marking its highest 28-day return since April 2025. The rise coincides with a shift in the market positioning index and an enhance in the exploit of leverage.
The combined view of the market positioning indicator and the number of open positions shows that novel positions are being added, potentially influencing BTC’s pursuit of novel highs.
BTC positioning builds as leverage increases
Bitcoin researcher Axel Adler Jr. he said that the Bitcoin positioning index increased, with its 30-day average rising to 4.5 from -10.9 in February. The indicator combines the direction of net audience flow, open interest trends, funding and trade balance into one indicator.
Its steady enhance since tardy March, from 0.4 to the current level, indicates continued improvement without breaking the price trend.
The enhance in open interest confirms the same trend. The 30-day change is +14.5%, and 23 of the last 30 sessions have ended positively. A rising position along with an increasing number of open positions signals the entry of novel capital into the derivatives markets.
Over the past 24 hours, aggregate open interest also increased by 6.7% to 260,000 BTC, while the price saw a leverage decline of 10.7% over the weekend.
Related: Bitcoin Bull Score Hits Six-Month High as Fears of a 2022 Bear Market Continue
BTC key levels to watch
Bitcoin has moved above a downward trend line dating back to the October 2025 high near $126,000 and has regained its 100-day exponential moving average (EMA). This indicates a robust trend change from bearish to neutral to bullish in the higher time frame.
The $81,000 level is currently the first test area, with a tiny fair value gap indicating a liquidity imbalance where maintaining the price would mean buyers are accepting higher prices.
Above $88,000 is the supply zone linked to the early distribution. The $88,000-$91,000 range stands out as a key supply zone, shaped by the earlier distribution phase when gigantic volumes of Bitcoin last changed hands.
Many of these holders are currently near breakeven or making a tiny profit, which tends to enhance activity as the price returns to this area.
Adding to this the realized price of a cohort of three- to six-month holders sits at $91,600, further solidifying this zone as a major decision point.
A sustained move in this range would signal robust demand, showing that buyers are absorbing the overall supply and setting the stage for a rise in Bitcoin’s price.
Crazzyblockk cryptocurrency analyst highlighted a narrow range where the USD 72,000-75,000 zone acts as a floor, supported by clusters of realized prices from medium-term investors. A break below this band would result in the loss of more supply, increasing the risk of reactive selling.
On the other hand, the $83,000-$85,000 range marks the profit-taking zone for recent short-term bond holders. Price strength in this range would signal that buyers are absorbing supply, which would allow momentum to build.
Related: ‘Powerful Move’ Approaching Bitcoin Price, Says Bollinger Bands Indicator
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