Bitcoin faces $76,800 resistance as short-term sellers and whales increase exchange inflows

Bitcoin (BTC) is confronting a key $76,800 resistance zone, driven by heightened short-term holder selling. According to CryptoQuant data cited by CoinDesk, $76,800 aligns with the realized price for short-term holders (addresses held for ≤155 days), a level that often becomes a supply wall when buyers reach breakeven. On-chain activity shows rising sell intent as BTC trades in the $75,000–$76,000 area. Exchange inflows spiked to roughly 11,000 BTC per hour, the highest hourly amount since December. Deposits were not just broad-based—whale-related addresses contributed far more. The share of exchange deposits coming from whales increased from under 10% to over 40% in this zone, suggesting larger investors are likely profit-taking into resistance. Historically, a January rally was rejected at the same $76,800 area, reinforcing its technical importance. CryptoQuant’s takeaway is supply-versus-demand: for BTC to achieve a sustained breakout above the mid-$70,000s, fresh demand must absorb the sell-side pressure from short-term holders and whales. The article also notes potential demand supports from spot Bitcoin ETFs, while macro factors and the upcoming Bitcoin halving could influence the broader backdrop. For traders, the near-term watchpoints are continued exchange inflow intensity and whether BTC can hold above $76,800 without further inflow-driven sell pressure.