Glassnode: BTC Near $75K After $80K Rejection

Glassnode data shows BTC trading near $75,000 on Monday after rejection above $80,000, with ETF outflows reaching their heaviest levels since early July and short-term holders sitting close to break-even while leverage remains elevated.

Price action on the 4-hour chart sits at $74,790.13 inside a bearish structure defined by the EMA50 at $76,717 and EMA200 at $79,896. The MACD death cross at -639.05 reinforces downside momentum, while RSI at 40.5 leaves room for further pressure before oversold territory. With price testing the upper Bollinger Band resistance at $76,841 and the lower band support at $74,269, a retest of the EMA50 appears likely before any sustained recovery attempt.