- Bitcoin holds above the 21-day moving average, keeping the $90K breakout setup active.
- CVD data fell from $50M to $6.5M on Binance and from $30M to $5.7M on Coinbase.
- Weak spot demand and macro uncertainty are making Bitcoin’s rally more fragile.
Bitcoin remains positioned near a key breakout zone, but fresh market data shows the rally is becoming more fragile. The latest chart shared by Michaël van de Poppe shows BTC’s price action holding above the 21-day moving average, keeping the $90,000 level in focus.
The setup still points to upside potential if momentum improves next week. However, CVD data shared by Darkfost shows weakening buyer strength across major spot venues, adding pressure to the bullish case.
Spot Demand Loses Strength Across Major Exchanges
Darkfost’s Cumulative Volume Delta analysis showed that spot demand weakened sharply after stronger March readings. According to his post, Binance’s monthly averages fell from roughly $50 million to $6.5 million.
Source: X
Coinbase showed a similar decline, with average net volume delta dropping from about $30 million to $5.7 million. The indicator also briefly turned negative on May 8. That shift pointed to a weaker balance between buyers and sellers.
It also showed that the recent recovery lacked the same spot support seen earlier in the year. The chart showed positive net volume delta narrowing through April and May. This came as BTC’s price recovered from earlier lows but struggled to extend decisively higher.
$90K Remains in Play While 21-MA Holds
Meanwhile, market analyst Van de Poppe said markets still looked strong for Bitcoin, with the 21-day moving average holding as support. His chart placed the asset at $80,797. The nearest resistance zone sits around $86,549, with a wider upside target near $90,364.
Source: X
A break above that region would keep the $90K scenario active. However, the 21-day moving average remains the immediate line to watch. If that support fails, the chart shows room for further correction.
Key downside areas on the chart include $79,127 and $76,604. Lower support zones appear near $73,408 and $71,438.
Macro Pressure Keeps the Rally Fragile
Notably, the CVD weakness came as traders assessed a less supportive macro backdrop. Darkfost pointed to unresolved Iran-U.S. tensions and their possible effect on growth and inflation.
That environment has kept risk appetite under pressure. It has also made sustained upside harder without stronger spot demand. For now, the technical setup still leaves room for a breakout toward $90,000.
Yet the CVD trend shows that buyers need to return more consistently. The market remains caught between continuation and correction. The next move depends on whether spot demand can strengthen while price holds above key support.
Related: Bitcoin Reclaims $81K as Senate Advances CLARITY Act, XRP Leads Crypto Rally
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