Bitcoin Medium-Term Structure Improves, But Recovery to $80,000-$81,000 Is Key

Bitcoin's medium-term structure is looking positive, but according to XWIN Research Japan, it will be difficult for the cryptocurrency to rally before spot demand recovers.

The analysis states that despite continued net inflows into U.S. spot Bitcoin ETFs, Apparent Demand remains negative, and traders should watch for the risk of sharp liquidations driven by exchange inflows and elevated leverage.

XWIN Research Japan said the key conditions for confirming a bullish trend are Bitcoin's recovery of $80,000-$81,000, the formation of a higher high, and a turn in spot demand indicators into positive territory.