Crypto
Bitcoin Stuck Near $78,200 as Resistance Zone Proves Elusive
Bitcoin's price is stuck near $78,200, struggling to break through the resistance zone of $80,000 to $82,000. Despite strong short-term support, the cryptocurrency has been unable to overcome this hurdle.
According to data, over 71% of Bitcoin's circulating supply is in unrealized profit, which is close to historical averages. This indicates potential selling pressure if prices rise further.
The US spot Bitcoin ETFs have seen net inflows of $723.5 million so far in September, showing strong investor interest despite some volatility.
Key economic events such as the August CPI report on September 11 and Federal Reserve and Bank of Japan meetings on September 16 could influence Bitcoin's near-term price action.