BTC sidon near $80K as $390M ETF dem out make people knack profit
BTC dey stall just under $80,000 after e bounce back, as resistance don harden from on-chain profit-taking and fund flows. Glassnode talk say there dey overhead cost cluster between True Market Mean near $78,000 and the STH cost basis around $79,000, where short-term holders dey often sell to reach breakeven. Realized profits for STHs sharply climb as BTC near $80K (peak near $7.2M per hour), reinforcing the near-term supply wall.
ETF flows dey add pressure. U.S. spot Bitcoin ETFs get about $390M net outflows over the last three days, after roughly nine-day inflow streak. Analysts see the turn back to outflows as consistent with possible local top.
Technically, BTC don regain the 50- and 100-day moving averages, but traders still need solid reclaim of $80,000 to flip resistance into support. If dem no get am, upside momentum fit stall and risk of further downside remain high, even though the next resistance zone around $84,000 dey view.
Bearish
Di latest update dey keep cautious tone: BTC no fit reclaim $80,000 and dat join wit more short-term holders dey realize profit and clear ETF flow deterioration. Profit-taking near di $78K–$79K breakeven band dey create structural supply, while di about $390M ETF outflow streak after inflows show say demand dey fade. Even though BTC don recover key moving averages, traders likely go face choppy conditions till BTC fit flip $80,000 to support; otherwise, sell pressure fit persist and pressure toward di next downside attempts go increase. For bullish shift, na sustained inflow/flow reversal and clean technical breakout above $80,000 dem need.