Bitcoin Eyes $82K Resistance as ETF Buying Strengthens

The price of Bitcoin is currently testing its $82,000 resistance level after a strong showing by US spot ETFs. These funds pulled in a reported $730.9 million in a single day last week, their second-largest daily inflows of the year.

Crypto analysis platform CryptoRus notes that this week could be a 'bullish test' rather than a completed breakout, and points to three signals worth tracking. Firstly, the ETF print itself: Bitcoin held near $80,000 even after a stronger-than-expected US jobs report briefly pressured the market.

The second signal is a leverage reset, with $554.2 million in crypto positions liquidated over 24 hours, $471.4 million of that being shorts and $276.7 million coming from BTC alone. The third signal is the performance of Zcash, which climbed from roughly $40 to above $1,200 over the past year.

A breakout still needs confirmation: a four-hour close above $82,000 followed by a successful retest would provide stronger confirmation. Losing $79,000, meanwhile, would weaken the immediate bullish case and put the liquidity area around $78,000 back in focus.