Bitcoin surged 4.8% on Friday to reach a weekly high of $83,378, continuing a bullish trend characterized by rising highs and lows. While this would typically signal strength in the market, some traders are sounding the alarm over unusual activity behind the rally.
One such voice is Atlantis7, a well-known order flow trader, who flagged what he calls “bizarre BTC flows” on major exchanges. According to him, the recent move was driven by a mix of passive bid orders on Coinbase and Binance, alongside aggressive spot buying on OKX. Despite the price climbing, Cumulative Volume Delta (CVD) fell while Coinbase’s premium remained positive—an odd divergence that typically doesn’t align with healthy bullish trends.
Atlantis7 speculated this behavior might indicate institutional repositioning, possibly a shift into crypto as a safe haven amid rising U.S.-China tariff tensions. He even hinted the rally could be an “exit pump,” masking quiet distribution before a selloff.
Macro Trends Suggest Bullish Reversal
While trading flows spark caution, the macro landscape tells a different story. A key economic indicator, the Global M2 Money Supply, is trending upward. Historically, Bitcoin has mirrored the M2’s direction: when liquidity expands, Bitcoin rises; when it contracts, BTC often falls.
This M2 uptrend is encouraging for risk assets like Bitcoin, especially as investors look to hedge against economic instability. The trade war escalation between former President Donald Trump and Chinese President Xi Jinping has already driven gold up 9.27% since April 9, reflecting growing demand for alternative stores of value.
However, this geopolitical tension could also inject volatility into crypto markets. Investors should be alert to shifts in macro policy, especially if tariffs broaden or inflation accelerates.
Critical BTC Levels to Watch Now
Bitcoin is now navigating a key price zone between $80.9K and $88.4K, which represents the value area where 70% of recent volume has been traded since February 25, 2025.
Key levels include:
- $83.1K: The highest volume node over the past 6 weeks
- $88.4K: Top of the current value area; potential breakout target
- $80.9K: Closest support if $83.1K fails
- $77K–$74K: Sell-side liquidity zone; risk of crash if breached
A successful break above $83.1K could push BTC toward $88.4K or even $90K, solidifying the bullish case. Conversely, rejection here could shift momentum sharply downward, triggering a deeper correction.