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

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ME News Report, May 2nd (UTC+8), Bitcoin price target locked at $80,000. Recently, Bitcoin has gained support above the 100-day exponential moving average and increased by 2.52%. Spot market trading volume has strengthened, with the cumulative volume delta (CVD) reaching 11,500 BTC, the highest since then. Meanwhile, open interest in Bitcoin futures has increased by 6.64% to 257,000 BTC, indicating new positions are being established. Over the past two days, Bitcoin rebounded from the 100-day EMA, rising to $78,800 on Friday, confirming a short-term upward trend. Spot market demand is also growing, with new high CVD showing buyers are absorbing supply during pullbacks. New positions in the futures market continue to add up, with open interest increasing, suggesting new participants are entering and consolidating below $80,000. Futures trading volume has recovered to 98,300 BTC, indicating buying pressure is returning. Liquidity is concentrated in the $78,000 to $80,000 range, and risk short positions could trigger a short squeeze. OTC balances have decreased, indicating reduced supply, consistent with the $1.97 billion ETF fund inflow trend in April. (Source: MLion)

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