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#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
Crypto Market News: Bitcoin drops below $76,000, retreating after failing to break $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 has 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 stated 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 data from Glassnode 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%, suggesting lower network engagement.
Analysis: Market Focus on CME Bitcoin Futures Gap Near $82k, Refill May Determine Continuation of 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, gaps form due to price jumps, and markets typically fill these gaps 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.”
Mars Finance reports that Bitcoin fell below $76,000 and retreated after failing to break through $80,000. Uncertainty over the Strait of Hormuz restarting and the macroeconomic situation have unsettled the market. At the same time, technical and on-chain data are sending mixed signals on whether BTC can sustain this rebound.
After hitting a low below $60,000 on February 6, Bitcoin recorded a 30% recovery, but it stalled as selling pressure hit in the supply zone between $78,000 and $80,000. This range is also where the current 20-week index moving average (EMA) sits, reinforcing the importance of this resistance level.
MN Capital founder Michael van de Poppe said that the current pullback is “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 coincides with the 20-day EMA, the 100-day EMA, and the lower boundary of an upward channel. Glassnode’s UTXO realized price distribution (URPD) shows that the direct resistance is around $78,000, where investors hold 335,650 BTC; about 298,560 BTC have an average buy price of $75,500, forming a key support level.
On the on-chain front, Glassnode shows 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, increasing by nearly 200% over the past week, reflecting strong bullish sentiment among market participants. However, spot trading volume fell 13.8% from $6.95 billion a week earlier to $5.99 billion, “indicating that market activity has decreased.” Over the same period, the number of daily active addresses dropped 1.6%, showing that network participation is more sluggish.
Analysis: Market focuses on the CME Bitcoin futures gap near $82,000; gap fill or will determine whether the rebound can continue
According to Decrypt, the crypto market is highly focused on the CME Bitcoin futures gap near $82,000. Analysts believe this level will become the key technical level for judging whether this round of rebound can continue. Because CME Bitcoin futures close on Fridays and reopen on Sundays, a price jump during the closure creates a “gap,” and markets usually fill this technical level before choosing a clear direction. If Bitcoin’s price can successfully fill the gap and hold above $82,000, this upswing is more likely to evolve into a sustained repair trend; if it is resisted and falls back, it may just be a typical “bull trap.”