Bitcoin tests $78,657 resistance with strong spot demand but no breakout yet; $82K next target if cleared.

Bitcoin has tested the key resistance level at $78,657 seven times since April 22 without a confirmed breakout, driven mainly by strong spot market demand rather than leveraged futures. Open interest slightly declined, indicating a stable price move supported by organic buying rather than speculative futures positions. Extreme negative funding rates on May 1 suggest short sellers faced pressure, potentially setting up a rapid price squeeze. If Bitcoin breaks above $78,657, it faces a dense liquidity zone between $79,500 and $81,000, with $82,000 as the next major target, though a price correction could follow after sweeping leveraged positions in that range.