According to The Block, Bitcoin fell below $78,000 on Thursday, intensifying concerns about the lack of momentum for a subsequent rebound. Data shows that Bitcoin spot ETFs have experienced net outflows for four consecutive trading days, while approximately $584 million in long positions were liquidated at the start of the week, continuing to suppress market risk appetite. Analysts believe that, until on-chain spot demand recovers, BTC will struggle to sustainably hold above $80,000 in the short term. Glassnode analysis notes that Bitcoin’s spot CVD (Cumulative Volume Difference) has been negative for nine consecutive trading days, marking the longest net selling period since 2026. Bitcoin had briefly reclaimed the key level of $78,300—the “true market average”—during its earlier rebound to $82,000, but has since fallen back below it. Historical cycles indicate that BTC typically requires weeks to months of consolidation in this range to confirm a shift in bull-bear structure.
BTC Struggles to Hold Above $80,000 as Market Concerns Grow
TechFlowShare
Summary
Bitcoin fell below $78,000 on Thursday, raising concerns about its risk-to-reward ratio amid persistent weakness. Spot ETFs recorded four consecutive days of outflows, and $584 million in long positions were liquidated this week. A spot grid strategy may help traders navigate the range-bound market. Glassnode data shows the CVD has been negative for nine consecutive days—the longest stretch since 2026. BTC briefly reclaimed $82,000 but has since retreated below $78,300.
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