Bitcoin Stuck Below $80K Sell Wall as Injective and Aerodrome Rally

Bitcoin (BTC) remains steady below $80,000 on Tuesday, struggling to break through the sell wall between $80,000 and $82,850.

The broader cryptocurrency market sentiment remains bullish, with the Fear and Greed Index showing a reading of 73. This is a sign that investors are still optimistic about the market's prospects.

However, Bitcoin's price action indicates that it's facing headwinds above $80,000. The King Crypto trades well above its moving averages but has been unable to push through this resistance level.

The Moving Average Convergence Divergence (MACD) crosses below its signal line on the daily chart, suggesting that upside momentum is moderating. This could be a sign that buyers are losing steam and sellers are gaining ground.