Bitcoin’s rebound approaches the $85,000 zone where past buyers may sell
Summary
Bitcoin briefly rose above $84,000 and Ethereum recovered above $2,500, but both face obstacles. Bitcoin’s largest concentration of investor cost bases lies around $84,000–$85,000, where holders may sell; failure to break through could leave $77,000–$79,000 as a potential support range. Stronger visible buy liquidity helped Bitcoin rebound, though those orders can be withdrawn. Ethereum derivatives data showed shrinking open interest and weakening large-trader bullish positioning, while total futures exposure remained about 10.58 million ETH, or roughly $26.5 billion at $2,500. Analysts said this mix could amplify moves: renewed declines may trigger long liquidations, while a sustained rise could force short covering.
