- Bitcoin trades inside $78K-$80K resistance with breakout risk at $80K.
- Altcoins show selective strength with ZCash (ZEC) +10% and Bittensor (TAO) +9% leading.
- Apparent demand remains negative at -44,700 BTC despite price recovery.
Crypto markets moved higher on Friday, with Bitcoin pushing to $78,900 and approaching the key $80,000 level. The move places BTC inside the $78,000-$80,000 cost-basis zone, a range identified as heavy monthly resistance.
Market data shows Bitcoin has been in recovery mode since early February. Price is now testing the upper boundary, where trends either extend into a new uptrend or fail and reverse back into range.
Swissblock data shows the market trend indicator is already flashing a “Top” signal near this zone. This points to possible exhaustion despite the ongoing recovery.
A clean break and hold above $80,000 is required to confirm continuation. However, failure to hold above this range increases the probability of rejection.
Altcoin Strength Leads Short-Term Momentum
Altcoins are leading the latest move. ZEC posted a 10% daily gain, while TAO climbed 9%. PI also moved higher with a 3% increase. On the other hand, M dropped 10%, and WLFI fell 9%, showing clear divergence across the market.
Over a 7-day period, momentum remains mixed. DOGE gained 11%, TAO held a 9% rise, and PI added 6%. In contrast, WLFI declined 27%, and NEAR fell 9%.
The structure shows selective strength rather than a broad altcoin rally. Capital is rotating into specific assets instead of lifting the entire market.
Demand Remains Weak Despite Price Recovery
Bitcoin has gained roughly 30% since February, but underlying demand has not confirmed the move.
CryptoQuant data shows apparent demand remains negative at -44,700 BTC. This is an improvement from -89,000 BTC in early April, but still signals that new supply is not fully absorbed by buyers.
Throughout 2026, demand has stayed negative except for a brief anomaly in late February. The move came from reduced mining output rather than real buying pressure.
This indicates the current rally is not yet backed by strong structural accumulation. A sustained uptrend requires demand to turn positive and hold.
Related: Bitcoin Eyes $90K in May as Recovery Holds Above Key Support
Exchange Flows Show Limited Selling Pressure
Bitcoin inflows to Binance have declined sharply in recent months. Monthly inflows dropped from $26.2 billion in October 2025 to $10.05 billion in March 2026.
Lower inflows typically signal reduced intent to sell, as more coins stay in cold storage. This trend supports price stability during recovery phases.
In April 2026, inflows rose slightly to $10.69 billion as Bitcoin approached $78,000. This indicates some short-term profit-taking, but levels remain far below previous peaks.
Overall, selling pressure remains limited. Large holders have not shown aggressive distribution, which supports the current price structure.
Breakout Setup Faces Final Test
Bitcoin now sits at a decisive level. The $78,000-$80,000 range defines the next move. A confirmed breakout above $80,000 opens the path for trend continuation. Failure to break or hold above this level aligns with the “Top” signal and increases the chance of a pullback.
It is important to note that while price is rising, selling pressure is low, but demand remains weak. The next move depends on whether buyers step in with enough force to sustain the breakout.
Related: USD/CAD Stays Rangebound as Bitcoin Demand Builds in Canada
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