Bitcoin Nears $80,000 as Spot, Futures and ETF Flows Rise

Bitcoin traded above $78,800 on Friday after rebounding from the 100-day exponential moving average. Spot cumulative volume delta reached 11,500 BTC, the highest reading since Feb. 17. Aggregated futures open interest rose 6.64% to 257,000 BTC. Exchange-traded funds recorded $1.97 billion of inflows in April.

The price gained about 2.52% on Friday following a retest of the daily trendline and a bounce off the 100-day EMA, which is acting as dynamic support on the daily chart.

Spot cumulative volume delta, which measures net buying versus selling, rose to 11,500 BTC, reflecting stronger buy volume during the recent dip.

Derivatives activity showed renewed positioning. An estimated leverage flush of roughly 9,000 BTC cleared excess positions earlier in the month. Aggregated futures open interest climbed to 257,000 BTC and futures volume recovered to about 98,300 BTC, remaining below levels seen during the April 27 correction.

Liquidity was concentrated between $78,000 and $80,000, with roughly $2.1 billion in short positions estimated to be at risk around those levels.

Institutional metrics tightened available supply. The 30-day change in over-the-counter desk balances fell by about 20,700 BTC, a level last seen in March 2025, indicating coins moved off desks. ETFs attracted $1.97 billion in April, and data showed a nine-day streak of inflows, the longest such run in 2026.

Ecoinometrics wrote, “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.”

Market participants are watching whether ETF and spot inflows persist and whether liquidity above $80,000 thins as spot, futures and institutional activity increase.