Why Bitcoin cannot rise above $80,000
Bitcoin (BTC) is facing difficulties in breaking above the $80,000 level, as capital inflows into the market are significantly lower compared to previous growth cycles. Analysts believe futures traders remain cautious, while long-term investors holding assets for six months may sell as the price reaches resistance levels. This is reported by Cointelegraph.com reports .
According to a Glassnode report, the volume of new capital entering the Bitcoin market over 30 days amounted to $2.8 billion. Although this figure helped the recovery from the April low of $65,000, current year capital inflows are insufficient to overcome the $80,000–$82,000 range.
Additionally, a significant accumulation of BTC purchased between November and February exists around the $86,900 level. These investors may begin selling to break even, creating a barrier that slows the market's upward movement. Currently, the $76,900 level remains the primary support point for short-term buyers.
Researcher Axel Adler Jr. noted that buying activity in spot and futures markets declined after Bitcoin surpassed $80,000. The indicator showing buyer pressure decreased by 35% compared to last week, suggesting that traders are less aggressive at current price levels.
