Bitcoin broke through the $78,000-$80,000 resistance zone this week, now acting as support. Long-term holders control 78.3% of the supply after 830,000 BTC migrated from short-term wallets.
Supply Shift Accelerates
A 4.2 percentage-point jump in long-term holder supply came fast. About 830,000 BTC moved hands in the recent cycle. That's the biggest quarterly shift since the 2025 halving event. The timing isn't great for short-term traders.
Support Now Anchored at $80,000
Prices tested the $78,000-$80,000 range three times before clearing it. Now it's a floor. Traders see $78,000 as the new safety line. Any drop below that triggers the $60,000 scenario.
Resistance Stacking Up Fast
Two tight supply zones between $79,000 and $94,000 stand in the way. Clearing $90,000 becomes tougher there. The rally needs serious momentum to punch through. It hasn't happened yet.
Correction Continues Despite Gains
Bitcoin's still in a corrective phase. Lower highs and lower lows persist since the $120,000 peak. The recent move doesn't change that pattern. This isn't a bull market breakout. The market's waiting for confirmation.
Traders now watch whether $78,000 holds as support in Thursday's sessions.
