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Bitcoin nears $80,000 rally on spot buying, rising futures open interest

Bitcoin is increasing the likelihood of retaking $80,000, supported by stronger spot buying, expanding futures open interest and improved institutional flows. It rose 2.52 percent after retesting its 100-day exponential moving average, trading above $78,800. Spot cumulative volume delta climbed to 11,500 BTC, the highest since Feb. 17. Futures open interest rose 6.64 percent to 257,000 BTC. April bitcoin ETF inflows totaled $1.97 billion.