Bitcoin: Trades Near $80K After $85K Push Fails
Glassnode reports bitcoin trades near $80k on Monday after a midweek push toward $85k failed, with longs paying funding fees and options traders hedging as spot and ETF buyers stepped back.
SourceAnalysis
Bitcoin trades near $80k on Monday after a midweek push toward $85k failed.
Glassnode notes longs continue paying funding while options traders hedge and spot plus ETF demand faded on the decline.
Price sits at $80462.78 inside the Bollinger Bands with upper resistance at $81587.04. The structure remains bearish as price holds below both EMA50 at $81363.27 and EMA200 at $81832.77, yet MACD shows a golden cross at -408.58 while RSI at 44.06 stays neutral. A test of upper band resistance could trigger a retracement toward the 50-EMA before any sustained move higher.
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