Three Bitcoin data points suggest a rally to $80K is imminent

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BTC/USDT on the one-day chart. Source: Cointelegraph/TradingView The spot demand is strengthening at the same time. The spot cumulative volume delta (CVD), which tracks net buying versus selling, reached 11,500 BTC, a new high since Feb. 17. This indicates buyers are absorbing the supply during the recent dip. Derivatives positioning is expanding in tandem with price, pointing to fresh participation. The aggregated open interest has risen 6.64% to 257,000 BTC over the past 24 hours, indicating new positions are being added as Bitcoin consolidates below $80,000. BTC price, spot, and futures CVD. Source: Velo This follows a recent leverage flush of roughly 9,000 BTC, suggesting that excess positioning has been cleared as the leveraged market rebuilds. The futures CVD adds further context. 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 correction, suggesting trader positioning is still developing. At the same time, liquidity continues to cluster in the $78,000–$80,000 range, with $2.1 billion in short positions at risk, which could lead to a short squeeze near the key level. Bitcoin liquidation heatmap. Source: CoinGlass BTC institutional activity continues to lean supportive. The 30-day change in OTC desk balances has fallen to around -20,700 BTC, matching levels last seen in March 2025. The lower balances indicate BTC moving off desks, reducing the immediately available supply. Bitcoin: Total OTC desk balance. Source: CryptoQuant The exchange-traded fund (ETF) flows show a similar pattern. With ETF flows reaching $1.97 billion in April. Bitcoin research newsletter Ecoinometrics noted a nine-day streak of inflows, the longest in 2026. Ecoinometrics explained that while the pace of inflows is moderate, the consistency has improved, adding, “The last time flows showed this kind of persistence was right before the October 2025 peak. Not saying we’re there yet, but it tells you the direction is improving.” The near-term focus is on how long flows sustain themselves and whether liquidity above $80,000 thins as spot, futures, and institutional participation increase. ETF inflow streak improves for Bitcoin. Source: Ecoinometrics/X

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