Bitcoin Holds Firm Above Demand Zone Amid Strong Recovery

Bitcoin's price has been holding firm above its demand zone, maintaining its upward momentum after reclaiming $80K. Over the past 35 days, Bitcoin has seen a significant recovery, with its value increasing by around 29%. The recent surge in price has also led to Bitcoin closing the week above its 50-week moving average for the first time in 45 weeks.

The strength of Bitcoin's price can be attributed to several factors, including the Federal Reserve's decision and the return of spot ETF inflows. While a short-term retest into the demand zone is possible, as long as demand holds, the structure remains constructive. The main upside target for Bitcoin remains the yearly open supply zone.

If buyers continue to maintain control, another leg higher could be on the horizon, with the yearly open supply zone becoming the next key destination. For now, the setup remains simple: as long as demand holds, the structure stays strong, and another upside leg toward the yearly open supply remains in focus.