On Wednesday, Bitcoin (BTC) reached a notable peak of $79,472, achieving its best monthly performance since April 2025. The increase is attributed to a significant rise in leverage usage and shifts in market positioning metrics, indicating that new investments are being made in the cryptocurrency space.
Bitcoin researcher Axel Adler Jr. highlighted that the Bitcoin positioning index has surged, with its 30-day average increasing from -10.9 in February to 4.5 now. This composite measure incorporates various factors including net taker flow, open interest trends, and exchange balances, reflecting a positive trend without disrupting the overall price performance.
Over the last day, open interest in Bitcoin has risen by 6.7%, bringing the total to 260,000 BTC. Additionally, Bitcoin has surpassed a previous descending trendline and reclaimed the 100-day exponential moving average, suggesting a shift towards a neutral-to-bullish trend. Key price levels to monitor include $81,000 as an initial test point, followed by a significant range between $88,000 and $91,000, which represents a critical supply zone from past trading activity.