Bitcoin Stalls at $80K Resistance Amid Profit-Taking and Long-Term Holder Selling

Bitcoin's price has struggled to break the $80K resistance level due to various factors. According to CryptoRank, long-term holders have been realizing gains of around $80,000, which may lead to a pullback in the short term.

The recent rally pushed momentum into overbought territory, causing profit-taking and a decrease in buying volume. As a result, the 12-hour RSI has slipped below its signal line, increasing the risk of a pullback without confirming a lasting market top.

Additionally, the funding rate is positive at 0.000091%, indicating that leveraged bullish exposure has not cleared completely. This means that spot buyers are needed to push the price higher rather than another short squeeze.