Bitcoin's Recovery Hinges on Breaking $83K-$86K Supply Zone

On-chain analytics firm Glassnode has identified a critical resistance zone between $83,000 and $86,000 that could determine whether Bitcoin's current recovery can sustain momentum.

The firm notes that U.S. spot Bitcoin exchange-traded funds (ETFs) recorded approximately $22.3 billion in net inflows during the recent rebound, marking the strongest weekly inflow figure this year.

This influx of capital suggests renewed institutional interest and has been a primary driver behind the price recovery from recent lows.

The derivatives market, however, has not shown the same level of exuberance. Glassnode noted that BTC-denominated futures open interest fell by 11% during the same period, while funding rates remained near neutral levels.

This divergence between spot buying and derivative activity may signal a more cautious market structure, with traders hesitant to add risk despite the positive price action.