Multiple data points indicate the market has shifted back to bullish, and Bitcoin could rise to $80,000 USD.

Mars Finance reports that multiple data points suggest $80,000 as Bitcoin’s next target. Bitcoin rose 2.52% on Friday after holding support at the 100-day exponential moving average (100-EMA). Meanwhile, spot market buying volume increased, with the cumulative volume delta (CVD) reaching 11,500 BTC, the highest level since February 17. Bitcoin futures activity is also heating up, with open interest rising 6.64% to 257,000 BTC, indicating new positions are being established. Over the past two days, Bitcoin rebounded from the daily trend after testing support. This pushed the price up 2.52% to $78,800 on Friday, maintaining a strong short-term upward trend. The 100-day EMA, acting as dynamic support on the daily chart, indicates higher time frame charts remain bullish. Spot demand is also strengthening. Tracking net buy and net sell spot CVD reached 11,500 BTC, a new high since February 17, showing buyers absorbed supply during recent pullbacks. Derivatives positions and prices are expanding in tandem, indicating new participants are entering. Over the past 24 hours, open interest increased 6.64% to 257,000 BTC, suggesting new positions are being built while Bitcoin consolidates below $80,000. This occurred after a recent liquidation of about 9,000 BTC of leverage, indicating excess positions have been cleared during the rebuilding of the leveraged market. Futures volume has recovered to 98,300 BTC, signaling a return of net buying pressure. However, it remains below the levels seen during the April 27 pullback. Meanwhile, liquidity continues to cluster in the $78,000 to $80,000 range, with approximately $2.1 billion in short positions at risk of a short squeeze near this key level. Institutional activity also remains supportive. OTC balances over the past 30 days have decreased to about -20,700 BTC, similar to levels in March 2025, indicating Bitcoin is flowing out of OTC desks and reducing immediate available supply. ETF fund flows show a similar pattern, with $1.97 billion in ETF inflows in April.