BTC reclaims $78K and ETF flows turn positive — but $80K resistance looms!

Bitcoin has broken above the True Market Mean at $78,100 for the first time since mid-January, a meaningful mean reversion after weeks of suppressed price action. The Short-Term Holder Cost Basis at $80,100 now marks the immediate ceiling — a level that has historically acted as a gravitational pivot during recoveries.

ETF flows have shifted back into positive territory on a 7-day moving average basis, signaling a tentative return of institutional demand after a prolonged outflow streak. Spot cumulative volume delta has also flipped higher, with renewed buyer aggression concentrated on offshore venues — early but directionally significant.

The setup carries tension in both directions. Negative funding rates mean shorts are building, creating squeeze potential if price pushes toward $80K. But elevated realized profits and soft implied volatility suggest the market is not yet convinced…