Analyst Says Bitcoin Eyes $80K as Key Level Faces Breakout Pressure

• Bitcoin has tested the US$71,500 pivot four times in the past seven days, forming an inverse head and shoulders pattern on the 4-hour chart with a breakout target near US$80,000.
• Open interest surged US$500 million in 24 hours to US$16.5 billion, while a CryptoQuant on-chain signal dropped to levels that preceded 10–14% rallies in previous months.
• Not all analysts are bullish. One warned the broader trend remains a downtrend from October’s US$126,080 all-time high, and US$4.5 billion in spot ETF outflows this year suggests fading institutional conviction.

Bitcoin traded around US$71,500 (AU$102,245) on March 25 after testing that level four times in seven days, keeping attention on whether a breakout can push the price toward US$80,000 (AU$114,400).

The range tightened between US$68,969 (AU$98,626) and US$72,026 (AU$102,997). On the four-hour chart, traders pointed to an inverse head and shoulders pattern with the neckline at US$71,500 (AU$102,245).

According to crypto trader Skew, if Bitcoin breaks above that level and holds it, analysts tracking the setup see US$76,000 (AU$108,680) as the next target, followed by US$80,000 (AU$114,400).

Derivative data also strengthened around the pivot. Open interest rose by US$500 million (AU$715 million) in 24 hours to US$16.5 billion (AU$23.6 billion). 

Funding rates turned positive at 0.03% after Monday, and a US$60 million (AU$85.8 million) bid filled during the New York session, showing demand around the US$71,500 (AU$102,245) level.

Related: SEC Advances Plan to Exclude Most Crypto Assets from Securities Rules

Onchain Signals Flash Green

CryptoQuant data showed the seven-day standard deviation of short-term holder realised profit-and-loss flows to Binance fell to 255 on March 24. Similar readings were followed by a 14% rally on Feb. 27 and a gain of about 10% in late December. 

A breakout above US$71,500 (AU$102,245) would need stronger buyer support, steady accumulation, and continued absorption of selling from short traders.

The Fear and Greed Index fell to 11, its lowest level in months. About 5.7 million BTC held by short-term holders remained underwater, with 92% of those positions at a loss.

Some analysts argue that even a rally toward US$80,000 (AU$114,400) could fade unless Bitcoin reclaims the US$72,000 (AU$102,960) range high, warning that the broader trend is still down from the October 2025 record of US$126,080 (AU$180,294).

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