Bitcoin Stalls Near $77,100 as Long-Term Holders Reassert Supply

Bitcoin's momentum has slowed as it approached a dense cluster of technical and on-chain barriers near $77,100. According to blockchain analytics firm CryptoQuant, this area represents a concentrated supply zone where sellers are likely to defend their positions during price advances.

The resistance zone is particularly notable because it coincides with the release of coins from long-term holders who accumulated during previous market cycles. Each attempt to move above this range is met with selling, and failed efforts can prompt further profit-taking from these investors.

CryptoQuant notes that a decisive break above $81,700 would target the next resistance at $83,600, defined by their network valuation model, with a further barrier at the $88,700 trader realized price band. Without a clear move above these points, Bitcoin could remain constrained by existing supply.