What's preventing Bitcoin price from breaking above $80K?

Bitcoin struggles to regain its footing above $80,000 as some buyers remain hesitant and heavy resistance builds overhead.

Bitcoin (BTC) is struggling to enter a stronger breakout phase above $80,000, as capital inflows into the BTC market remain below levels seen in past bull runs. BTC futures traders are also staying cautious, while a growing number of investors who have held for the past six months may look to sell into key resistance levels, according to new analysis.

The Week On-chain report from Glassnode stated that Bitcoin’s 30-day realized cap net position change recently climbed to $2.8 billion per month. The metric tracks the amount of new capital entering the BTC market over 30 days.

Read more