Bitcoin: 7.75M BTC Held at Loss

Bitcoin at $77660.39 leaves roughly 7.75 million coins underwater according to Glassnode data, a classic supply overhang that defines bear market structure and clears only when weak hands exit.

Traders watching the 4h chart note price holding above the EMA50 support at $77263.33 and EMA200 at $77322.31 while the MACD golden cross at 87.33 keeps momentum bullish; RSI at 58.19 stays neutral and the band structure places price inside the range with upper resistance at $78267.9, suggesting continuation toward that level before any deeper test of lower support at $74686.08.