Bitcoin is holding above $78,000 as traders anticipate a potential pullback before the next rally, with key macro events set to drive risk-asset sentiment.

Cryptocurrency	Ticker	Price
Bitcoin	(CRYPTO: BTC)	$78,196
Ethereum	(CRYPTO: ETH)	$2,466
Solana	(CRYPTO: SOL)	$102.28
XRP	(CRYPTO: XRP)	$1.39
Dogecoin	(CRYPTO: DOGE)	$0.08878
Shiba Inu	(CRYPTO: SHIB)	$0.05538

Notable Statistics:

• Coinglass data shows 79,941 traders were liquidated in the past 24 hours for $221.57 million.       
• SoSoValue data shows net outflows of $46.7 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $24.3 million.
• In the past 24 hours, top gainers include NEAR Protocol, Venice Token and Pump.fun.

Notable Developments:

• Bitcoin Makes Golden Cross but That May Not Be a Good Sign
• Bitcoin-Gold Correlation Hits a 6-Year High: What’s Going On?
• Bitcoin Holds $79,000, Defying Fed Hike Fears: What Is Going On?
• Bitcoin Supply in Profit Hits 69.3%, Glassnode Says: Here’s Why That’s Concerning
• CLARITY Act Passage Tumbles to a 14% Chance: Is the Senate Vote too Little too Late?
• Trump’s ‘Made In America’ Bitcoin Mining Pledge Is Falling Apart: What’s Going On?
• Dogecoin Eyes Breakout to 10 Cents but There’s One Problem

Trader Notes:

Trader Dom noted Bitcoin is holding the $80,000 area well after its nearly 30% rally, with strong spot buying absorbing heavy selling.

He remains neutral to slightly bullish as long as $76,000 holds but sees little trading edge inside the current range.

Trader Jelle predicts that if Bitcoin’s recent low proves to be the cycle bottom, this bear market would be both shorter and shallower than previous cycles.

This raises questions about whether the next bull market could also behave differently.

Bitcoin may be undergoing vertical accumulation, with higher highs and higher lows forming beneath resistance as buyers absorb supply, exitpump said. A strong breakout through resistance could trigger continuation into price discovery.

Image: Shutterstock

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.