Bitcoin fell back below $80,000 after testing the level, with XWIN Japan pointing to profit-taking by existing holders as a major barrier. Unrealized profit indicators remain elevated, with PnL readings of 21.1 for long-term holders and 13.4 for short-term holders. Nearly $2 billion entered US spot Bitcoin ETFs over five days, while US Treasury buybacks were increased from $2 billion to $4 billion per operation. Bitcoin was trading around $79,000, up 23% over seven days but down 28% year-to-date and approximately 37% below its all-time high of $126,000 set last October.
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