Bitcoin Trapped in Tight Range as Strong Demand Fails to Clear Resistance

Bitcoin's price has been stuck in a range between $76,000 and $82,000, despite strong demand from investors such as those who hold U.S. Spot Bitcoin ETFs and large investors like Strive.

This demand is supported by a peak in Binance's derivatives open interest, which suggests that there are many players involved in the market.

However, there is a significant supply cluster around $82K, representing 35% of Bitcoin's total supply, which creates resistance and limits upward movement.

Technical indicators suggest that if Bitcoin can break above this supply zone, it may be able to continue its bullish trend and potentially surpass its all-time high of $126,000.