Bitcoin is trading around $79,500, down 0.5% on the day, just below the psychologically important $80,000 level. According to Andre Dragosch from Bitwise Europe, bitcoin’s core returns come from just a few trading days, with the rest being sideways movement. For example, removing the 10 best days from 2019 would have turned a 94% gain into a 40% loss. Sustained institutional ETF inflows suggest that informed investors are not attempting to time these sideways movements. Key resistance according to Reuters technical analysis sits at $82,793, with support levels at $75,674 and $71,781.
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