Bitcoin Struggles Below $80,000 Amid Weak US Spot Demand

Bitcoin's price has stalled below $80,000 as weak US spot demand offsets holder profits.

The cryptocurrency traded around $78,419 on August 27, with its Delta-Thermo Market Multiple (DTMM) registering 2.03. This reading places Bitcoin above the accumulation zone but below the 2.5 threshold associated with broader market expansion.

According to CryptoQuant analyst GugaOnChain, the current environment is a consolidation phase between undervalued accumulation and stronger expansion. The chart also flags 3.5 as a distribution zone where elevated valuations can prompt experienced holders to take profits.

Short-term holders are providing structural support, with their realized price standing at $69,371. However, this means Bitcoin trades roughly 13% above that floor, and the Market Value to Realized Value ratio sits at 1.13, indicating modest rather than stretched profits.