Key Insights Bitcoin price approached $77,000 while $80,000 remained major resistance. Short-term holder profitability recovered as BTC reclaimed recent cost bases. Derivatives positioning re
Bitcoin traded near $77,100 on Aug. 24 after extending a sharp weekly recovery. The Bitcoin price remained below $80,000, where traders identified a concentrated technical resistance area. That zone mattered because momentum improved while recent buyers moved back into profit.
CoinMarketCap data placed bitcoin near $77,100 with roughly $32.5 billion in daily volume. Coinbase data also showed the asset gained about 22% over the previous week. The rebound repaired part of the damage created during the first half of August.
CoinGlass data showed Bitcoin futures open interest near $55.7 billion on Aug. 24. Futures volume reached about $63.9 billion during the previous 24 hours. Spot volume on the platform totaled roughly $4.8 billion over that period.
CoinGlass also recorded about $107.6 million in Bitcoin futures liquidations during the previous day. That total followed heavier liquidations during the earlier rally from the low-$60,000 region. Rising open interest now leaves the market more exposed to leverage-driven volatility around resistance.
Source: CoinMarketCap CoinMarketCap placed Bitcoin’s market capitalization near $1.55 trillion on Aug. 24. Circulating supply stood near 20.07 million BTC against the protocol’s 21 million maximum. The Bitcoin USD pair therefore remained the dominant reference market for crypto risk after the rebound.
The distance from the 2025 peak also remained material despite the weekly advance. CoinMarketCap recorded an all-time high near $126,198 on Oct. 6, 2025. At prices around $77,000, BTC crypto still traded roughly 39% below that record.
Jelle, a crypto market analyst, identified $80,000 as the main resistance level. He said the 50-week and 100-week exponential moving averages converged around that area. Jelle treated the advance as a relief rally while Bitcoin remained below the zone.
Source: X That assessment placed the Bitcoin price at an important weekly technical junction. A sustained move above clustered moving averages would improve the medium-term structure. Failure there could direct attention back toward reclaimed support from the recent advance.
The structure also created two distinct decision zones. Buyers first face resistance near $80,000, where Jelle located the weekly moving-average cluster. Below market, the short-term holder cost basis provides a separate test of demand.
Glassnode research offered a longer-term comparison for the current drawdown. Its drawdown metric recently placed Bitcoin about 49.8% below its prior record. Historical Glassnode research found earlier bear-market lows between roughly 75% and 84% below previous peaks.
That gap does not imply Bitcoin will repeat earlier cycle losses. Market structure, liquidity conditions and institutional participation differ across cycles. However, the comparison showed the current drawdown remained shallower than several previous bear-market bottoms.
CryptoQuant contributor Crazzyblockk reported a sharp profitability recovery among recent Bitcoin buyers. Short-term holder profitability improved from negative 6.8% on Aug. 16 to positive 11.3% by Aug. 24. The short-term holder realized price also increased from about $67,300 to $68,600.
Bitcoin age band unrealized pnl distribution. Source: CryptoQuant The same CryptoQuant analysis placed the long-term holder cost basis near $63,000. Newer investors carried a higher cost basis near $73,000, leaving a thinner profit cushion. That created a broader support band between roughly $68,000 and $73,000.
Crazzyblockk also reported that unspent transaction outputs in loss fell sharply during the rebound. Their share dropped from 51.8% on Aug. 16 to 23.8% on Aug. 24. Aggregate unrealized losses fell about 45%, while unrealized profits rose nearly 40%.
Those shifts showed that the rally repaired profitability across several holder groups. They did not confirm that a broader cycle reversal had started. Recent holders can become sellers quickly when price falls below their acquisition costs.
The immediate test now sits at $80,000, where weekly moving averages and seller interest have converged. The bitcoin price today remains close enough for another test after its weekly recovery. A rejection would refocus traders on the $68,000 to $73,000 cost-basis region.
Holding that band would keep recent buyers above their average acquisition prices. Losing it would push part of the short-term cohort back into unrealized losses. Traders will watch $80,000 resistance and the $73,000 support area during the next weekly close.
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