U.S. spot Bitcoin (CRYPTO: BTC) ETFs logged eight straight days of inflows totaling $2.1 billion through April 23—the longest streak since the nine-day October 2025 run that took Bitcoin to its $126,000 all-time high.

The ETF Momentum Is Back

Bloomberg ETF analyst Eric Balchunas said every single rolling period they track is now positive for the first time in months. BlackRock’s IBIT (NASDAQ:IBIT) has pulled in $3 billion in one-year flows, putting it in the top 1% of all ETFs.

April 23 alone brought $223.21 million, with IBIT doing roughly 75% of the lifting at $167.49 million. Fidelity’s FBTC (BATS:FBTC) posted the one meaningful outflow at $16.93 million.

Bitcoin has climbed from $68,000 to $77,000 over the streak—a 12% move that has coincided almost perfectly with the ETF bid returning. Cumulative ETF net inflows since launch now sit at $58 billion, and total assets hit $102 billion.

The $80,000 Test Ahead

Bitcoin just reclaimed its True Market Mean at $78,100, which tracks the average cost basis of actively transacted supply. This is the first time that level has been reclaimed since mid-January.

The problem is the next level. The Short-Term Holder Cost Basis sits at $80,100, which is the average entry price for anyone who bought in the last 155 days. 

A move above it would push more than 54% of recent buyers into profit.

In every prior instance this cycle, that threshold has coincided with local top formation as short-term holders use the rally to break even and exit.

Profit-Taking Already Spiking

Short-Term Holder Realized Profit has already spiked to $4.4 million per hour, per Glassnode. 

The $1.5 million threshold has preceded every local top year-to-date. The current reading is three times that.

Funding on Bitcoin perpetuals is still negative, meaning shorts are paying longs. Saturday’s short squeeze took Bitcoin to $78,000 briefly before the Hormuz reversal pulled it back.

The Chart Setup

Bitcoin has cleared the 20 EMA at $74,520, 50 EMA at $72,806, and 100 EMA at $75,479—all now sitting below price as a rising support stack. 

The Supertrend at $70,847 has been green for two weeks straight.

The one wall that remains is the 200 EMA at $82,566—the last major technical hurdle before Bitcoin can genuinely claim a trend reversal. It’s only $4,300 away from the current price.

Support sits at $75,479 (100 EMA), then $74,017, then $70,847 (Supertrend). 

Meanwhile, resistance clusters at $80,000 (psychological), then $82,566 (200 EMA), then $85,000.

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