Bitcoin Price Potentially Heads Towards $80,000 as Bullish Sentiment Grows

Bitcoin's price has shown signs of a rebound, with multiple indicators suggesting it may reach $80,000.

On Friday, the cryptocurrency rose by 2.52% to $78,800, maintaining a strong short-term uptrend after retracing its daily trend line for the past two days. This push above the 100-day Exponential Moving Average (EMA) suggests a bullish outlook on higher time frame charts.

The spot market has also seen increased buying pressure, with Cumulative Volume Delta (CVD) reaching 11,500 BTC, the highest level since February 17th. This indicates that buyers have absorbed supply during the recent pullback, further supporting the bullish sentiment.