Today, Bitcoin once again showed bullish momentum after successfully rising above the $80,000 level. Over the past three months, Bitcoin as the world’s largest cryptocurrency asset has surged from $63,00 to $80,000 triggering renewed optimism in the global market.
A latest report from Glassnode highlighted three main signals currently supporting Bitcoin’s potential rise toward the next resistance area around $85,000. These three signals come from on-chain data, futures markets, and options dynamics.
On-chain, Bitcoin is now trading above two important levels, namely the True Market Mean around $78,200 and the Short-Term Holder Cost Basis around $79,100. Both levels are considered important indicators because they represent the average purchase price of active investors and short-term holders. BTC holding above these levels is considered to strengthen bullish market sentiment.
Glassnode also noted that investor profitability has started to improve. Net Realized Profit and Loss data has turned positive again after previously remaining under pressure for several months. On the other hand, profit-taking activity from long-term holders has started to increase, although it still remains far below the previous cycle’s peak levels.
Additional support comes from the institutional market. Spot Bitcoin ETFs in the US have once again recorded capital inflows after experiencing prolonged outflows since late 2025. The return of ETF inflows is considered a sign of recovering institutional interest in Bitcoin.
Meanwhile, funding rates in the futures market remain relatively negative even as prices continue to rise. This condition indicates that many traders are still maintaining short positions, potentially triggering a short squeeze if prices continue strengthening.
Glassnode noted a large short gamma concentration around the $82,000 area. This situation could increase volatility and strengthen short-term price movements.
Although bullish momentum remains intact, analysts warn that Bitcoin is still sensitive to movements in US technology stocks. For now, the $85,000 area remains a key level that will determine BTC’s next price direction.
