Bitcoin Price News: BTC Eyes $85K as Futures Market Comes Back to Life

Bitcoin (BTC) retreated from the $78,000 resistance in the past few days, but it is once again setting its eyes on this key level as market sentiment continues to improve.

President Donald Trump has repeatedly vowed to end the war with Iran “very soon” as U.S. forces have allegedly decimated the country’s military defenses, prompting an “indirect” regime change.

The market has embraced the news and seems to be expecting that geopolitical tensions will ease in the next few days, setting the stage for a strong move to higher ground for risky assets.

Bitcoin ETFs Bring In $1.5 Billion in Just 5 Days

Bitcoin exchange-traded funds (ETFs) have been receiving positive net inflows for five days in a row. In total, these vehicles have brought in over $1.5 billion during this period, indicating strong interest from investors.

Data from CoinShares says that crypto exchange-traded products (ETPs) have received positive inflows for three weeks in a row now – a strong signal of a change in sentiment.

Moreover, the Fear and Greed Index is behaving in a way that resembles the late stages of previous bearish cycles.

This sentiment gauge rose to “Greed” territory at 62 just days ago for the first time since October 2025. In addition, billions of dollars in short positions have been wiped out of the futures market in the past few days as a result of BTC’s recovery from $66,000 to $78,000.

Interestingly, the futures market is starting to show signs of resurrecting from the dead. Rising traders’ participation can also be considered an early sign that we have hit a cycle bottom.

Paired with an improvement in macroeconomic conditions via lower oil prices, the current scenario favors a break above Bitcoin’s long-dated $78,000 resistance in the next few days.

BTC Could Soon Retest its 200-Day EMA

Heading to the daily chart, we can see that the top crypto retreated strongly after hitting this resistance. However, yesterday’s price action shows that buying interest persisted at $74,000.

The Relative Strength Index (RSI) remains above the mid-line and recently climbed above the 60 level. This is typically considered a buy signal as it means that bullish momentum is strong.

The first target for BTC if a break above $78K happens would be the 200-day exponential moving average (EMA), as we expect a reversion to the mean move.

On the other hand, if the rally keeps going, the ultimate target for this bullish impulse should be $85,000. If that happens, we will get better visibility into whether we are in front of a bear market rally or if this is the beginning of a cycle change.

In contrast, if we get another rejection of the $78,000 level, that would be a clear indication that bears are still in control, and the most likely landing zone for the top crypto in that case would be $70,000. This means a downside risk of 10%.

Heading to the 4-hour time frame, two of the last three signals have been “buy”. However, the last one popped up exactly once Bitcoin hit $78,000. Since the price immediately retreated off that level, bulls probably depleted their resources to get BTC that high, and bears took over afterward.

We need a clean breakout with above-average volumes to confirm institutional participation in the next move. If that happens, the road should be paved for a move toward $85,000 in the near term.