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How will $BTC 's trend develop? #Gate Square May Trading Share
Bitcoin's spot trading volume and the increase in open interest in futures contracts indicate the market is turning bullish again.
Some Bitcoin (BTC) data suggest that $80,000 is the next target for this cryptocurrency. Bitcoin rose 2.52% on Friday, trading above $78,800, after previously holding support at the 100-day exponential moving average. Buying activity in the spot market is also strengthening, and the cumulative volume delta (CVD) reached 11,500 BTC, the highest level since February 17.
Futures activity for BTC has increased, with open interest rising 6.64% to 257,000 BTC, indicating new positions.