Bitcoin drops below $84K despite heavy buying: is $76K the next real test?

Bitcoin ($BTC) fell below $84,000 on Thursday as investors continued to take profits after the cryptocurrency’s rally to its highest level since January.

However, it has slightly recovered and is now trading above $84,200.

Despite the decline, sustained exchange-traded fund inflows and accumulation by larger holders suggest that underlying demand remains constructive.

Bitcoin also continues to trade well above its major daily moving averages, leaving its broader bullish structure intact.

The immediate test is whether buyers can defend the current area and reclaim resistance at $85,000.

Profit-taking weighs on Bitcoin price

Bitcoin began the week with a 6.7% gain on Monday, climbing to $87,395 before sellers began locking in profits.

Santiment’s Network Realized Profit/Loss metric rose sharply during the rally and reached its highest level since December 12, 2025.

NPL measures the difference between the price at which coins last moved and their value when they are subsequently transferred.

A positive reading generally indicates that holders are moving or selling bitcoin at a profit, while a negative result points to realized losses.

Monday’s spike suggests a significant number of investors used the rally to exit positions or reduce their exposure at higher prices. That additional supply has helped push $BTC lower during the following three sessions.