Bitcoin Eyes $80,000 Threshold as Bullish Metrics Converge

Bitcoin (BTC) has surged to a monthly high of $79,472, marking its strongest 28-day performance since April 2025. This price action is accompanied by a notable shift in market sentiment and an increase in leverage within the futures markets, suggesting that new capital is actively entering the derivatives space. Technical indicators suggest a transition from a bearish to a neutral-to-bullish trend on higher time frames. The asset has reclaimed its 100-day exponential moving average (EMA) and successfully broke above a descending trendline that had been in place since the October 2025 peak of $126,000. Quantitative data supports this momentum. The Bitcoin positioning index, which aggregates net taker flow, funding, and exchange balances, saw its 30-day average rise to 4.5 from a February low of -10.9. Additionally, open interest has increased by 14.5% over the last 30 days, with a recent 24-hour jump of 6.7% bringing the total to 260,000 BTC. Looking ahead, immediate resistance is noted at $81,000. Beyond that, a profit-taking zone exists between $83,000 and $85,000 for short-term holders. A more critical supply zone is situated between $88,000 and $91,000, reinforced by the realized price of three-to-six-month holders at $91,600. On the downside, analysts identify a support floor between $72,000 and $75,000, where mid-term holder clusters are concentrated.