Bitcoin Price Hinges on Spot Demand as Resistance Zone Looms

The Bitcoin price is at risk of a trend reversal as spot demand fails to confirm a move above the $82,000 to $83,000 resistance zone.

According to CryptoQuant data, exchange inflows have risen, while Binance holds around 685,000 to 687,000 BTC, adding to supply concerns. If buyers cannot reclaim $83,000 with a strong daily close, the bullish view would be weakened.

The market positioning has also changed, with funding rates turning negative and open interest dropping from about $27.5 billion to $25.7 billion between September 4 and 5.

However, Binance BTC open interest recently moved above $10 billion, its highest level in six months, leaving some doubt over whether the recovery is being driven mainly by real spot buying rather than derivatives activity.