Bitcoin Price Eyes Breakout Above $81,000 as $100K Target Looms

The Bitcoin price has shown signs of a potential market shift after breaching the $75,500 support level and recovering key range. According to Crypto Scient, this failed breakdown could be a turning point for the cryptocurrency.

With whale activity remaining active across both derivatives and spot markets, analyst WhaleFactor highlighted that open interest did not increase sharply alongside Bitcoin's late-August breakout.

The recent rebound in U.S. spot Bitcoin ETFs also adds context to the current market structure. Spot Bitcoin ETFs have seen net inflows of $159.5 million on September 17, led by the IBIT ETF from BlackRock, which posted inflows of $183.7 million.