Bitcoin Rose to $78.500: $75K Support Held

Bitcoin Price Strengthening at $78,500 Level

Bitcoin reached the $77,250 level with a slight increase on Friday, holding the $75,000 support. According to the latest data, the price climbed to $78,515.43 (+%2,70), surpassing the 1.25% gain since midnight. However, there is no convincing momentum across the market; traders continue to counter rallies with short positions. Negative funding rates in the futures market confirm this trend. The CoinDesk 20 Index (CD20) rose 0.7%, turning 14 of its members green. The price has been trapped in the $75,000-$80,000 range since April 19. RSI at 61.75 is in the neutral zone, the trend is sideways but Supertrend gives a bearish signal. Click here for detailed BTC analysis.

Negative Pressure in Futures and Options Markets

After testing the support level, BTC recovered and made an upward jump despite Wednesday's struggles. Futures open interest remains stable around $19 billion, with no change in speculative movements. Three-month annualized basis is steady at 1.5%; institutions are cautious. Options flows are call-focused, with put/call volume 58% in favor of calls in the last 24 hours. Delta skew fell from 9.5% to 8.6%, reducing demand for downside protection. Volatility contango: rising from 29% short-term to 45% in March 2027. Liquidations limited to $149 million, Binance $75,400 critical threshold. BTC futures details here.

Technical Support and Resistance Levels

• Supports: S1 $71.926 (72/100 ⭐ Strong, -%8,39 distance, Fibo 0.382, VAL, SMA100/50), S2 $75.716 (67/100 ⭐ Strong, -%3,56, EMA20)
• Resistances: R1 $79.445 (97/100 ⭐ Very Strong, +%1,19, Fibo 0.618, Donchian Upper, Swing High), R2 $84.515 (56/100 Medium, +%7,64, Supertrend)

EMA20 provides support at $75.822.

AXS and PENDLE Standing Out in Altcoins

This table shows that traders remain on the short side and belief in an upside breakout is weak. Negative funding and stable OI imply short-term pressure. In DeFi, CDOR has normalized, signaling resilience. Memecoin and compute indices lead; AXS, HYPE, MON, PENDLE, RAY, TAO rose. MORPHO, AAVE, WLFI declined. Check PENDLE analysis. Overall market is cautious.