Bitcoin bulls ‘approaching the ceiling’ near $85K resistance with $1.69B ETF inflow streak and macro tailwinds aligned: analysts
Bitcoin bulls face $85K resistance despite significant ETF inflows and supportive macro conditions.Summary
Bitcoin is trading near $81,000, having cleared key onchain cost basis levels, but analysts from Glassnode warn of a major resistance ceiling near $85,200. While spot Bitcoin ETFs have seen a massive five-day inflow streak totaling $1.69 billion, the derivatives market shows complexity, with negative funding rates indicating continued short-seller interest.
Onchain metrics show improved profitability for active participants, though realized losses remain elevated. Long-term holders are taking profits at a measured pace, suggesting a lack of aggressive distribution.
Macroeconomic tailwinds, including potential geopolitical stability in the Middle East, have eased inflation concerns. However, analysts suggest that a sustained break above $85,200 is necessary to confirm a structural recovery.
(Source：The Block)