Bitcoin Buyers Losing Control as $80K Level Remains Elusive

Bitcoin's attempt to reclaim the $80,000 level has stalled, and recent Binance data suggests buyers are losing control. The cryptocurrency is currently trading near $77,000 after pushing back towards the key level.

The latest on-chain data shows a significant decline in aggressive market-order flow, with Cumulative Net Taker Volume (CVD) falling by 54% from August 21's $5.77 billion to $2.67 billion. Meanwhile, Open Interest has only declined by around 4%, indicating that derivatives exposure remains relatively high.

This divergence in market pressure suggests that the current range may break, leading to sharper price movements. The next critical test for bulls is a daily close above $80,000, followed by a move through the $82,000-$84,000 resistance zone.