Bitcoin’s floor looks firmer at $80,000, but traders still don’t trust the breakout

BTC has recovered from Friday’s jobs-driven dip, but Enflux says overhead resistance remains intact while Glassnode’s market structure data suggests traders are buying the rally while still positioning for downside. What to know : Bitcoin is trading just above $80,000 with a stronger structural floor from ETF demand and low exchange reserves, but its rebound still looks more like a test of resistance than a decisive breakout. Trading data from Glassnode show buyers growing more aggressive in both spot and futures markets, yet rising leverage and increased short-side funding suggest many traders are still hedging rather than fully embracing the rally. The recovery in other high-end risk assets, such as luxury watches, contrasts with bitcoin’s inability to clear key resistance levels, leaving its next move heavily dependent on upcoming inflation data and broader macro sentiment.(Coindesk)