CryptoNews, as Bitcoin demand rises, spot and institutional capital inflows are increasing, and the market appears to have shifted to a bullish stance. Multiple Bitcoin data points suggest that $80,000 is the next target for this cryptocurrency. Bitcoin rose 2.52% on Friday, trading above $78,800, with support at the 100-day exponential moving average. Spot market buy volume has strengthened, and cumulative trading volume has increased to 11,500 BTC, the highest level since February 17. Bitcoin futures activity is also picking up: open interest rose 6.64% to 257,000 BTC, indicating new funds are entering the market. Meanwhile, liquidity has clustered in the $78,000 to $80,000 range and faces $2.1 billion in short risk, which could trigger a short-term squeeze.

BTC2.13%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin