Glassnode: BTC Holds Near $78K After $80K Slide

Glassnode notes BTC trades near $78k on Monday after Thursday's slide below $80k, with perpetual sellers driving the drop while spot buyers held steady.

BTC at $77417.36 sits below both the EMA50 at $79018.1 and EMA200 at $81055.3, confirming the bearish trend structure on the 4h chart. Price tests the upper Bollinger Band resistance at $78524.8 with RSI at 39.78 in neutral territory and MACD showing a bullish golden cross at -384.96. Traders watch for a retracement toward the lower band support at $76915.06 before any sustained move higher.