Several Bitcoin (BTC) data suggests that $80,000 is the next destination for the cryptocurrency. Bitcoin rallied 2.52% on Friday to trade above $78,800 after holding support at the 100-day exponential moving average. Buying volume in the spot market also strengthened as the Cumulative Volume Delta (CVD) reached 11,500 BTC, its highest level since February 17.
BTC futures activity is picking up, with open interest rising 6.64% to 257,000 BTC, indicating new positioning.
Bitcoin’s daily trend recovery shows a new positioning
Bitcoin recovered 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, keeping the short-term uptrend intact.
The 100-day EMA, which is currently acting as dynamic support on the daily chart, suggests that the higher timeframe chart remains bullish.
BTC/USDT on a 1-day chart. Source: Cointelegraph/TradingView
At the same time, spot demand is strengthening. Spot cumulative volume delta (CVD), which tracks net buying versus selling, reached 11,500 BTC, a new high since February 17. This indicates that buyers are absorbing supply during the recent decline.
Derivatives positioning is expanding in tandem with price, indicating new participation. Total open interest rose 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 forward CVD. Source: Velo
This follows a recent leverage flush of approximately 9,000 BTC, suggesting that excess positioning has been cleared as the leverage market rebuilds.
Futures CVD adds additional context. Futures volume recovered to 98,300 BTC, signaling the return of net buying pressure. However, it remains below the levels seen during the April 27 correction, suggesting that the trader’s positioning is still developing.
At the same time, liquidity continues to cluster in the $78,000-$80,000 range, with $2.1 billion in risk short positions, which could lead to a short dip near the key level.
Heat map of bitcoin liquidation. Source: CoinGlass
Related: Bitcoin ETFs attracted $2 billion in April for biggest monthly inflows this year
Institutional demand for BTC reduces the available supply
Institutional activity of BTC continues to be supportive. The 30-day change in OTC desk balances fell to around -20,700 BTC, matching levels last seen in March 2025. Lower balances indicate BTC is being moved off the tables, reducing the currently available supply.
Bitcoin: The total balance of the OTC table. Source: CryptoQuant
Exchange-traded fund (ETF) flows show a similar pattern. With ETF flows reaching $1.97 billion in April. Bitcoin Research Newsletter Ekoinometrics recorded a nine-day streak of inflows, the longest in 2026.
Ecoinometrics explained that while the pace of inflows has moderated, consistency has improved, adding,
“The last time the flows showed this kind of persistence was just before the peak in October 2025. I’m not saying we’re there yet, but it tells you the direction is improving.”
The short-term focus is on how long the flows are sustained and whether liquidity above $80,000 diminishes as spot contracts, maturities and institutional participation increase.
A streak of ETF inflows is improving for Bitcoin. Source: Ecoinometrics/X
Related: Bitcoin’s $75k cost base emerges as key support zone for current bull trend
