Crypto
Bitcoin Defends Established Range Amid Market Pressure
Bitcoin is holding steady at $78,817.81 after a week of roughly 1% decline, maintaining its established price range despite a combination of selling pressure in spot and perpetual markets along with ETF outflows.
A closer look at the market reveals that capital inflows are continuing to absorb this pressure rather than leading to a breakdown, a pattern observed over the past six months of consolidation.
On the 4-hour chart, Bitcoin is testing its upper Bollinger Bands resistance at $78,458.32 within a bullish EMA structure, with the 50-period exponential moving average serving as immediate support and the 200-period line anchoring the broader uptrend.