Bitcoin Fails to Break Through $80,000 as Sellers Remain Cautious
Bitcoin's price has slipped back below $80,000 after failing to break through this key level that analysts say must be surpassed for liquidity to return. On-chain data shows easing selling pressure, but fresh spot buyers have not yet arrived.
Holders have largely stopped selling at a loss, with Net Realized Profit and Loss back in positive territory and Long-Term Holder SOPR at 1.2. Accumulation addresses control roughly 2.3 million BTC, and depositors have shown little urgency to move coins onto exchanges as Bitcoin approached $80,000.
Hedge funds have trimmed short exposure, and macro pressure tested the base after August payrolls printed at 162,000 against a 53,000 consensus, pushing September rate-hike odds near 60%. Despite this, Bitcoin still closed the week 3.45% higher.