BitcoinBTCThe highest 28-day return for ) was $79472, reached on Wednesday. This rally coincides with the shift of a market position metric, and an increase in leverage usage.
The combined market position metric with open interest indicates that new positions have been added. This could be a factor in BTC pushing to new highs.
BTC position builds as leverage increases
Bitcoin researcher Axel Adler Jr. said Bitcoin’s positioning index, which has been rising since February to its current level of 4.5 (up from -10.9), is a good indicator that Bitcoin prices are on the rise. The indicator is a metric that combines the direction of net takers flow, trends in open interest and funding as well as exchange balance.
The steady rise in price since March shows that the trend has not changed.
Open interest growth confirms this trend. The 30 day change is at +14.5%. 23 out of last 30 sessions have closed positively. Rising positioning and expanding open interest indicate new capital entering the derivatives market.
In the past day, aggregated interest rose by 6.7%, to reach 260,000 BTC. Over the weekend, however, leverage dropped 10.7%.
Related: Bitcoin Bull Score hits six-month high as 2022 bear-market fears linger
The key BTC levels you need to know
Bitcoin is now above a descending line that stretches back to the peak of October 2025, near 126,000 dollars. It has also reclaimed its 100-day moving exponential average (EMA). The trend has shifted from neutral to bullish in the longer timeframe.
First, the $81,000 mark will be tested. If there is a fair-value difference, it indicates that there’s a lack of liquidity, while if a higher price was held, this would mean buyers were willing to pay more.
Over $88,000, the zone of supply is associated with a previous distribution. The $88,000–$91,000 range stands out as a key supply zone, shaped by a prior distribution phase when large volumes of Bitcoin last changed hands.
Those who are holding the shares now have a slight profit or they’re at break-even, and this will increase activity when prices return to that level.
Adding to this, the realized price of the three–to-six–month holder cohort sits at The $91,600 mark reinforces this area as an important decision point.
This range is a good indicator of strong demand. It shows that buyers have been absorbing the excess supply, and this will set up Bitcoin to rise.
Crypto analyst Crazzyblockk highlighted a tight range, with the $72,000–$75,000 zone acting as a floor, supported by clusters of realized prices from mid-term holders. If the band breaks below it, more supplies will be in loss and this increases the likelihood of reactive sales.
On the upside, the $83,000–$85,000 marks a profit-taking zone for recent short-term holders. The price strength in this range indicates that the buyers have absorbed all of the available supply and momentum is building.
Related: ‘Powerful move’ looms for Bitcoin price, says Bollinger Bands indicator
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Source: cointelegraph.com
