Glassnode: Bitcoin Holds Near $78K After Slide

Glassnode data shows Bitcoin trading near $78,000 on Monday after Thursday's slide below $80,000, with perpetual futures sellers driving the move.

Longs keep paying funding rates and options traders are buying protection, yet spot buyers have held steady through the correction.

Price sits at $77,132.99 below both the EMA50 at $79,006.94 and EMA200 at $81,052.48, confirming the bearish trend structure, while RSI at 37.5 remains neutral and MACD shows a bullish golden cross at -407.65. With price testing the upper Bollinger Band resistance at $78,542.50 inside the bands, a retracement toward the $76,868.92 lower band support appears likely before any sustained rebound attempt.