Bitcoin Falls Below $76K as $80K Resistance Holds

Bitcoin fell below $76,000 on Tuesday after sellers capped gains near the $78,000–$80,000 supply zone, leaving the coin trading in a narrow range between established support and resistance levels. The pullback followed a roughly 30% recovery from sub-$60,000 lows reached on Feb. 6.

Technical indicators place near-term support at about $75,500, where the 20-day and 100-day exponential moving averages and the lower trend line of an ascending channel converge. The 20-week exponential moving average sits near $79,000, reinforcing the $78,000–$80,000 area as a supply band.

Market participant Michael van de Poppe, founder of MN Capital, described the retracement as “typical behavior” ahead of the Federal Open Market Committee meeting and noted that “Bitcoin touched the resistance zone at $79,000 and is consolidating.” He added that he expects continued strength in markets over the period ahead.

On-chain realized-price distribution data show investor holdings clustered around the current trading bands. About 335,650 BTC were acquired at roughly $78,000 and about 298,560 BTC at an average price near $75,500, the latter marking an immediate support area. The distribution also indicates a larger supply overhang around $82,000–$84,000 and a broader support band around $65,500–$67,000.

Order-book and liquidation measures point to a tight market structure. A liquidation heatmap shows heavy ask orders near $78,600 and dense bids below the spot price; traders describe the pattern as a “liquidation sandwich.” Buyers have indicated they will defend the $75,500–$76,000 floor while sellers have concentrated at the $80,000 round number.

On-chain activity delivered mixed signals. Data from on-chain analytics firm Glassnode showed spot cumulative volume delta, a measure of buy versus sell volume, increased to $54.8 million from $18.3 million over the last week. At the same time, reported spot trading volume fell 13.8% to $5.99 billion from $6.95 billion week-over-week, and daily active addresses dropped 1.6%.

A private-wealth manager’s Bitcoin Fundamental Index moved closer to neutral as the price recovered above $70,000. The manager posted that while price structure points higher, fundamentals remain weak and that a medium-term trend shift would require neutral-to-strong fundamentals to confirm.

Institutional flows were mixed. The largest corporate holder, identified as Strategy, continued to accumulate Bitcoin, while U.S.-based spot Bitcoin exchange-traded funds recorded about $273 million in net outflows on Monday. Market participants also cited geopolitical uncertainty around the Strait of Hormuz and the upcoming U.S. central bank meeting as factors affecting sentiment.

At the time of the decline, Bitcoin remained range-bound, trading between the $75,500 support area and the $80,000 resistance band as buy-side pressure rose and spot volume and network participation eased.