Bitcoin's $80,000 Breakout Zone Faces Resistance from Trapped Supply
Bitcoin's price action around $80,000 has become a critical inflection point for the market, separating bullish and bearish structures. According to CryptoQuant analyst Darkfost, using a capital-weighted methodology, Bitcoin's average holding cost is approximately $79,600, making the $80,000 mark the breakeven threshold for most investors.
If daily and weekly closes hold above $80,000, it would signal a powerful breakout. However, nearly 975,000 BTC are trapped in a resistance zone between $83,307 and $84,569.
Analyst Ali Martinez notes that traders' average unrealized profit has reached 25%, while whales have already realized roughly $88 million in gains, suggesting profit-taking pressure is building. The absence of U.S. spot demand, reflected by a negative Coinbase premium index, adds to the market's cautious tone.
The DTMM indicator at just 2.03 remains well below the 2.5 expansion threshold, pointing to continued range-bound trading in the near term. Glassnode's research offers a relatively positive signal, as the Bitcoin Vector momentum indicator has turned positive following the recent low, coinciding with Bitcoin's roughly 20% rally.