Bitcoin Price at Crossroads as Spot Demand Fails to Confirm Breakout

The Bitcoin price is facing pressure as spot demand has yet to confirm a move above the $82,000 to $83,000 resistance zone. According to CryptoRank, this lack of confirmation is causing uncertainty in the market.

Rising exchange inflows and high Binance reserves are keeping supply concerns alive. However, ETF holdings and stablecoin inflows point to buying interest from both institutions and traders.

Analyst Popeye believes that Bitcoin is still in an uptrend and may be working through a higher low before making another move toward the $83,000 area. He points to demand, Fibonacci levels, and volume nodes as areas that could shape the next move.