Bitcoin analysts explain why BTC price can’t take out $80K
A large overhead supply cluster, increased profit-taking activity and the resumption of spot Bitcoin ETF outflows are key factors keeping BTC price pinned below $80,000.
Bitcoin (BTC) rebounded 32% to a 10-week high of $79,500 on April 22 from its sub-60,000 multi-year low. But recent buyers took advantage of the rally to exit as the price has since corrected to $76,000 on Thursday, with $80,000 proving a tough barrier to break.
Key takeaways:
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