Bitcoin open interest hit five-week highs while funding rates mimicked the BTC price collapse below $60,000, leading analysis to predict a new short squeeze.
Technical analysis, overhead supply awaiting absorption, and a shift in investor sentiment have increased the likelihood of Bitcoin reaching $80,000 in April.
Bitcoin bulls spent the week stampeding toward a critical overhead resistance level, which, if breached, could restart the bull market in BTC and altcoins.