Bitcoin Holds Steady Above $80K as Bulls and Bears Await Breakout
Bitcoin (BTC) held steady over the weekend, trading between $79,750 and $80,100 on Bitstamp. This tight range is consistent with a broader uptrend that has been intact since the summer.
The cryptocurrency remains above its major daily moving averages, with support near $77,231 and resistance at $80,523. The Hull moving average acts as resistance in this zone.
Options traders are leaning bullish, with calls making up 61.69% of open interest compared to 38.31% for puts. However, thin weekend liquidity means any significant price movement could happen without strong volume behind it.
The next few sessions will be crucial in determining whether Bitcoin can retest its September high around $82,239 or if a drop below $79,586 opens the door to $78,650.