$BTC Bitcoin Struggles Below Key Resistance as Bearish Signals Grow
Bitcoin is trading near $77,900 after failing to break above its crucial 200-day moving average at around $82,400 — a level many analysts view as the dividing line between a temporary bear-market rally and a true market recovery.
Market sentiment has weakened sharply as CryptoQuant reports that the key drivers behind Bitcoin’s recent surge are losing momentum. Leveraged futures activity, spot market demand, and inflows into U.S. spot Bitcoin ETFs have all slowed significantly. The firm’s Bull Score Index has now dropped to an “extremely bearish” reading of 20, signaling growing caution among investors.
Adding to concerns, U.S. spot Bitcoin ETFs have recorded nearly $2 billion in outflows over the past two weeks. Demand indicators across major crypto markets, including the U.S., South Korea, and Hong Kong, are also showing signs of weakness.
If selling pressure continues and market demand fails to recover, analysts believe Bitcoin could face a deeper correction, with the $70,000 level emerging as the next major on-chain support zone traders will be watching closely.