Against the backdrop of optimism in global equity markets, Bitcoin has climbed above $79k today and is attempting a sustained break of the $80k resistance level. This level is defined not only by its “round,” psychological significance, but also by the on-chain True Market Mean and dealer positioning. Inflows into Bitcoin have improved on the back of institutional demand and ETF buying, but distribution is still ongoing amid relatively weak spot demand.
Looking at the chart, the current rebound phase following the decline is clearly longer than the previous one, and its percentage range is also greater. However, this alone does not guarantee a return to an uptrend. The $82–83k zone, where the 200 EMA (red…
