Bitcoin’s recovery from the $60,000 demand zone has carried it through several major technical barriers, but the market is now watching whether the largest cryptocurrency can clear the $80,000–$82,000 resistance area. According to price analysis, BTC has been trading inside a rising channel since August 20 and remains bullish above $77,992. A confirmed push above $81,233 is needed to extend the channel and target the next major resistance near $95,000.
Two days into the week, spot Bitcoin ETFs have already attracted $651.93 million in net inflows, more than a third of last week’s $1.92 billion record pace. Analysts note that this demand is a key factor supporting the current consolidation, even as Bitcoin slipped only 0.09% on the day. IBIT’s dominance within ETF flows has drawn attention as a possible warning sign, though overall demand remains strong. Some observers, including Ben Cowen, caution that another pullback before the end of the year remains possible, even though Cowen has been buying Bitcoin since July.
On the daily chart, Bitcoin has broken above a descending trendline and reclaimed the $72,000–$74,000 zone, which could now act as first major support. The 100-day moving average sits near $66,000 and the 200-day near $70,000, both flattening or turning higher. Momentum indicators, however, are stretched: the daily RSI is overbought, and the 4-hour chart shows a bearish divergence, with price making a higher high while RSI made a lower high. If BTC loses the $72,000–$74,000 support, the next important test is around $64,000.
On-chain data is more encouraging. The adjusted SOPR metric has rebounded sharply, and its 30-day EMA has moved above 1.0, signaling that spent Bitcoin is generally being realized at a profit again. Historically, a sustained move above 1 can support a transition toward a healthier bullish market structure. Still, the steepness of the latest jump suggests that short-term cooling would not necessarily invalidate the broader recovery if aSOPR remains above 1 during any pullback.
