Bitcoin is once again approaching a significant resistance level near $80,000, a price that has repeatedly halted its recovery in recent months. Resistance and supply zones challenge BTC On M
Bitcoin is once again approaching a significant resistance level near $80,000, a price that has repeatedly halted its recovery in recent months.
On Monday, Bitcoin traded near the upper end of the $77,000 range, staying under both the key $80,000 psychological level and its recent peak of approximately $82,000. This latest attempt to break out is now being closely watched by both traders and institutional investors.
Earlier this month, Bitcoin briefly climbed above $80,000 but failed to hold the level as renewed expectations for interest rate hikes weighed on sentiment. Sellers quickly emerged, driving prices lower and stalling further gains.
According to recent market analysis, a concentrated supply of Bitcoin sits between $81,000 and $86,000. Investors who purchased BTC at higher prices in previous rallies may view a rebound to this zone as an opportunity to exit their positions and lock in profits.
A breakout above $80,000, on its own, may not be sufficient to confirm a sustained upward trend. Bitcoin would need not only to hold above this level but also to overcome the heavier selling pressure found within the $81,000–$86,000 zone.
Key Bitcoin LevelsResistanceSupportFirst hurdle$80,000$75,000Supply zone$81,000–$86,000Mid-$70,000sBreakout target$90,000200-day EMA / Low-$73,000Institutional demand has also shifted. Earlier in the month, spot Bitcoin exchange-traded funds (ETFs) drew nearly $1 billion in weekly inflows as BTC consolidated near $80,000. However, recent days have seen a notable reversal. On September 10, Bitcoin ETF funds reported approximately $283 million in daily outflows, marking several consecutive sessions of investor withdrawals.
This change indicates that Bitcoin’s next breakout attempt may occur without the strong ETF inflows that contributed to price support earlier in September. Analysts say a return to positive ETF flows combined with a move above $80,000 would present a more compelling case for a sustainable rally.
Institutional appetite for Bitcoin appears to have cooled, at least temporarily. ETF inflows are no longer providing the same tailwind as observed just weeks ago, which could make any breakout above $80,000 more fragile without renewed investor interest.
Bitcoin will need to clear its recent high around $82,000 and overcome the $81,000–$86,000 supply zone to make a move towards the $90,000 target more plausible. Traders are watching these levels carefully, as failure to break through could see the price stall or reverse.
On the downside, technical support for Bitcoin is currently seen in the mid-$70,000 range, with the closely watched 200-day exponential moving average (EMA) situated near the low-$73,000 level. A drop below $75,000 would likely bring the $73,000 zone into focus as the next key support.
Above $80,000, attention will shift to resistance at $82,000 and then the $86,000 supply zone. If the move fails, support is expected between $73,000 and $75,000.
Market participants remain alert for a decisive shift in ETF flows or increased volatility as Bitcoin approaches these critical levels.
The post Bitcoin eyes crucial $80,000 breakout as ETF inflows dry up appeared first on COINTURK NEWS.
