Watching Bitcoin bounce around below the 80k mark right now. There's definitely some selling pressure keeping it capped, but what's interesting is the derivatives market is still pretty active despite the price stalling. You'd think if we were really losing momentum we'd see that activity dry up, but it hasn't.

The crypto rise narrative is still there in the background though. Seems like traders are still positioning for moves, even if the spot price isn't breaking through cleanly at the moment. Could just be consolidation before the next leg up, or we might be stuck here for a bit longer. Either way, the fact that derivatives traders aren't bailing suggests there's still some conviction behind the scenes.

Keeping an eye on whether we can actually push through this resistance or if we get rejected again. The activity on the derivatives side will probably tell us more than the price action alone.