With Bitcoin holding firm around $79,600, market attention has begun shifting away from short-term spot dynamics toward major infrastructure developments spanning traditional finance and regulatory policy.
Despite this shifting focus, on-chain data from Glassnode reveals that BTC continues to test a formidable supply wall around the key $80,000 psychological threshold. This price zone aligns closely with the aggregate cost basis of US spot ETF holders, creating heavy overhead resistance as institutional buyers seek to de-risk or reach breakeven following recent market volatility.
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