Bitcoin Stuck Below $80,000 as Ethereum Funding Rates Hit 1-Year High

Bitcoin (CRYPTO: BTC) continues to stall below $80,000, but interest in Ethereum (CRYPTO: ETH) remains high, with funding rates on Binance hitting a one-year high.

Why Bitcoin Keeps Failing at $80,000

CryptoQuant analyst XWIN Japan wrote that on-chain data shows nearly every investor group has returned to profit, which is exactly why $80,000 keeps rejecting. 

Long-term holders show an unrealized PnL indicator of 21.1, short-term holders at 13.4, and even the newest investors at 5.3, meaning more holders now have profits available to take off the table.

The SOPR Ratio, which measures long-term holder selling relative to short-term holders, briefly rose to 1.4 as Bitcoin approached $80,000 before falling back to 0.93, signaling long-term holders stepped in to sell into the strength. 

ETF inflows and lower Treasury yields are supporting demand, but profit-taking from existing holders keeps a lid on any sustained break higher.

A clean break above $80,000 backed by continued spot and ETF demand targets $88,000 to $90,000. Losing the $75,000 to $76,000 support zone would weaken short-term holder profitability and accelerate any correction.

Why Ethereum’s Funding Rate Surge Matters