Bitcoin has been holding above $80,000 since March 11, signaling that bulls are stepping in to buy dips rather than waiting for a deeper correction. However, the struggle to push past $86,000 suggests that bears are still selling into rallies. CoinShares’ latest report shows that crypto ETPs saw $1.7 billion in outflows last week, bringing the five-week total to $6.4 billion. The current 17-day streak of outflows is the longest since CoinShares began tracking data in 2015.

Despite this bearish trend, long-term investors remain hopeful. According to CryptoQuant contributor ShayanBTC, holders who bought Bitcoin three to six months ago are accumulating again, a pattern that has historically marked market bottoms and kickstarted new uptrends.

Bitcoin is attempting to establish a higher low, building momentum for a potential breakout above the 200-day SMA at $84,112. A positive divergence on the RSI suggests that selling pressure is easing. If buyers push the price above the 20-day EMA at $85,808, the BTC/USDT pair could climb toward the 50-day SMA at $92,621. However, if the price faces strong resistance at the 200-day SMA and reverses sharply, it will signal that bears are using this level as a sell zone. In that case, the pair may drop to $80,000 and potentially slide further to $76,606.

Ether remains range-bound between $1,963 and $1,821, indicating a lack of aggressive buying. If the price breaks below the key support zone of $1,821 to $1,754, it could trigger the next leg of the downtrend, with ETH/USDT potentially dropping to $1,550. On the flip side, if bulls step in and push the price above the 20-day EMA at $2,107, the pair could gain momentum and rise to the 50-day SMA at $2,514, a level where bears are expected to put up strong resistance. If bulls manage to clear this hurdle, the rally could extend to $2,857.

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