Bitcoin reclaims $80,000 as flows build, but traders hedge and doubt a breakout
Strong ETF inflows and rising leverage are lifting prices, yet CryptoQuant data shows weak spot demand and Polymarket odds put just a 23% chance on $90,000 this month....
Key takeaways
- 1Bitcoin reclaimed $80,000 driven by $2.7 billion in U.S. spot ETF inflows over three weeks, not broad spot buying.
- 2April's rally was powered entirely by perpetual futures demand while spot demand contracted, historically signaling fragile gains.
- 3Polymarket odds show only 23% probability of Bitcoin reaching $90,000 this month, indicating weak conviction in the breakout.
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Why it matters
For Indian retail investors, this signals Bitcoin's bounce lacks fundamental strength and relies on leveraged positions prone to rapid reversals. The weak spot demand despite price gains suggests caution is warranted before adding exposure at current levels.
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