#加密市场小幅下跌 Bitcoin fails to break through the $80k resistance level, on-chain indicators show a mix of bullish momentum and cautious sentiment

CoinDesk reports that Bitcoin fell below $76,000, retreating after failing to break through $80,000. Uncertainty surrounding the reopening of the Strait of Hormuz and macroeconomic conditions have unsettled the market. Meanwhile, technical and on-chain data provide mixed signals on whether BTC can sustain this rebound.
Since hitting a low below $60,000 on February 6, Bitcoin has gained 30%, but it stalled due to selling pressure in the $78,000 to $80,000 supply zone. This range also coincides with the current 20-week exponential moving average (EMA), emphasizing the significance of this resistance level.
MN Capital founder Michael van de Poppe said that the current pullback is a “typical behavior” ahead of the FOMC meeting. He added, “I believe we are still in a strong market phase.”
On the support side, Bitcoin retested the $75,500 support level, which also aligns with the 20-day EMA, 100-day EMA, and the lower boundary of an upward channel. Glassnode’s realized price distribution of UTXOs (URPD) shows that the direct resistance is around $78,000, where investors hold 335,650 BTC; approximately 298,560 BTC were bought at an average price of $75,500, forming a key support level.
On-chain, Glassnode data indicates that the Bitcoin market exhibits “a mix of bullish momentum and cautious sentiment.” Spot CVD (Cumulative Volume Delta) rose from $18.3 million to $54.8 million, an increase of nearly 200% over the past week, reflecting strong bullish sentiment among market participants. However, spot trading volume decreased by 13.8% from $6.95 billion to $5.99 billion over the past week, “indicating reduced market activity.” Meanwhile, daily active addresses declined by 1.6%, showing lower network engagement.
Analysis: Market attention on CME Bitcoin futures gap near $82k, filling this gap may determine the continuation of the rebound
According to Decrypt, the crypto market is highly focused on the CME Bitcoin futures gap near $82k. Analysts believe this level will be a key technical point in determining whether the current rebound can continue. Since CME Bitcoin futures close on Fridays and reopen on Sundays, a price gap often forms, and markets typically fill this gap before choosing a clear direction. If Bitcoin can successfully fill the gap and hold above $82k, the rally is more likely to evolve into a sustained recovery; if it faces resistance and falls back, it may just be a “bull trap.”