Bitcoin’s recovery is losing momentum, with volatility falling to around 25% and its gain from June lows limited to 38%, compared with 75% at the same stage of 2023. Short-term holders’ average unrealized profits have dropped from 20% to 5.5% in one month, leaving them more exposed to renewed selling pressure. The $80,000 level is critical support; a break below it could open the way to $77,000-$78,000 and then $75,800. Conversely, a move above $81,000-$82,000 could target $84,000-$85,000, while softer inflation and declining yields could push Bitcoin toward $90,000.
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