Bitcoin Price Regains Key Trend Level as Institutional Demand Surges

Bitcoin's price has regained a key long-term trend level after 317 days, according to CryptoQuant contributor Burak Kesmeci. The Net Unrealized Profit and Loss (NUPL) measure turned positive against its long-term trend, indicating aggregate unrealized profit.

The rebound pushed the NUPL above its yearly average, with readings rising from 0.16 to 0.32 over four days. Kesmeci treated this crossover as a trend-reversal signal rather than a standalone price target.

Traders Killa and That Martini Guy identified liquidity concentrations around $73,000-$75,000 and $78,000-$80,000, suggesting competing liquidity targets above and below the current price.

The recent rally has also been accompanied by institutional demand, with U.S. spot Bitcoin ETFs recording four consecutive sessions of inflows totaling $1.62 billion.

Renowned crypto analyst Ted Pillows identified a small liquidity cluster around $75,400, but noted that larger concentrations remain near $78,000-$80,000.