Bitcoin Faces Resistance at $80,000 Before Eyeing Surge to $100,000
Price ActionDigital Finance
Bitcoin briefly surged past $81,000 on August 25 but hit technical resistance and is now trading around $80,000, a key transition point before a potential rally to $100,000. Data from Coindesk shows that nearly 975,000 BTC were purchased in the price range of $83,307-$84,569, which poses a supply-side obstacle. Meanwhile, the profit rate for traders on the blockchain stands at 25%, prompting profit-taking selling, with whales having recently realized profits of about $88 million. If the price pulls back, the next support levels are at $76,996-$78,258 and $63,111, but a sustained close above $80,000 would be a bullish signal. Spot Bitcoin ETF funds saw inflows of $2 billion over the past week, the strongest in 10 months, and are expected to receive a boost from the CLARITY Act vote in September.
