#Gate广场五月交易分享 Bitcoin bulls suddenly return! Spot buying surges by 199%, nearing the $80k mark?

Bitcoin continues its upward trend from overnight, continuing to rise. As U.S. markets open and risk appetite improves, the world's largest cryptocurrency has gained nearly 3% in the past 24 hours, with the latest price at $78,360, once again approaching the $80k threshold.
Earlier this week, Bitcoin approached this level but failed to break through and subsequently retreated; however, after renewed buying interest, the price has strengthened again.
This rally is synchronized with the U.S. stock market. The U.S. stock market opened higher on Friday, risk asset sentiment warmed, providing additional support for Bitcoin.
Data shows that Bitcoin spot CVD (Cumulative Volume Delta) surged by 199.1% over the past week, rising from $18.3 million to $54.8 million, indicating aggressive buying in the spot market.
Meanwhile, perpetual contract CVD also increased by 174.7%, reaching $315.1 million, suggesting that both spot and derivatives markets are experiencing consistent buying pressure. This means the current rally is not solely driven by futures leverage but is supported by spot buying, making the market structure more stable than before.
ETF funds are flowing back in, providing an absorption layer. ETF inflows, which had stalled for several weeks, have resumed, offering an important absorption layer for Bitcoin and helping it stay above $78,000.
BlackRock’s spot Bitcoin ETF—IBIT—rose 1.33% in yesterday’s trading. Previously, institutional crypto demand experienced three consecutive days of net outflows, but the latest trend shows that demand for funds is re-strengthening. This capital reflow occurred after ETF outflows once suppressed spot liquidity, making it a market signal of renewed institutional demand.
Meanwhile, open interest in Bitcoin contracts has recovered to $25 billion. This indicates leverage funds are re-entering the market. However, unlike the short-term surge mainly driven by futures in January, the current trend is more “spot-led, with leverage following.” CVD structure shows that spot buying is becoming a key foundation for this rally.

$80,000 becomes a critical breakout level. $75,000 is the bulls’ defensive line.
Currently, the market focus is on whether Bitcoin can truly break through $80,000. Many traders see this level as a key breakout point. Once the price surpasses this level, it could attract more cautious buyers to enter. “I think $80,000 is a very important resistance level… we need a confident breakout. Once it surpasses this level, it could ignite some momentum, especially as recent investors will return to profitability,” Fritz also said.
He added that if Bitcoin further rises above $85,000, the market might start to see initial signs of a reversal.
From a technical perspective, Bitcoin is currently forming higher lows and regaining support around $77,000.
The CVD curve remains above the moving average, which is an important confirmation of bullish confidence.
Although RSI is at a relatively high level, it has not yet reached the extreme overbought zone, indicating there is still room for further upside.
If $75,000 can hold at the weekly close, Bitcoin is likely to open the path toward $80,000; further, on-chain resistance zones point to around $82,000.
If $75,000 fails to hold, the real support level could be close to $72,000.

Oil prices retreat as U.S. stocks strengthen, improving risk sentiment.
The macro environment is also supporting Bitcoin.
On Friday, U.S. stocks opened higher, risk appetite improved. Meanwhile, oil prices dipped slightly after reports of Iran submitting new negotiation proposals to the U.S.
Brent crude futures for July delivery fell 3%, to a low of $106.66 per barrel. However, supply concerns have not disappeared.

Iran continues to blockade the Strait of Hormuz, a key shipping route, while the U.S. Navy maintains efforts to prevent Iranian oil exports. This results in a relatively moderate oil price response.
Traders are weighing the possibility of a deal but cannot ignore current practical constraints.
More broadly, the macro environment is turning favorable.
Supported by strong earnings from Alphabet and Caterpillar, Wall Street maintained positive momentum into April’s close, and Bitcoin also followed the Nasdaq’s risk appetite rebound.
Traditional fund managers increasingly see Bitcoin as an alternative to high-volatility tech stocks, further strengthening Bitcoin’s correlation with U.S. stocks in a trending macro environment.
If U.S. stocks continue their rebound before the next FOMC decision, Bitcoin’s macro tailwinds will persist and further amplify spot demand signals.