Bitcoin reclaims $80,000 as flows build, but traders hedge and doubt a breakout

The story

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.

From the source

Analysts at CryptoQuant say that crypto" class="cross-link" data-cross="1">BTC s return to $80,000 is being powered by buyers who don’t fully trust it, a dynamic reflected in both positioning data and on-chain signals.

ETF inflows and leveraged longs have driven a steady climb in recent weeks, but the underlying demand picture remains uneven. U.S. spot bitcoin ETFs have pulled in roughly $2.7 billion over the past three weeks , helping lift total net assets above $100 billion and providing a clear source of real-money support.

Elsewhere, market maker FlowDesk reported last week in Telegram note growing appetite to scale into levered long positions, particularly in majors like ether (ETH) and Near Protocol NEAR, reinforcing the idea that fast money is playing a central role in pushing prices higher.

Who and what

Key names and topics in this story: Bitcoin.

Where to follow next

• Read the full piece at www.coindesk.com
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