Bitcoin Price Faces Major Sell Wall, Can BTC Continue Its Rally?

Key Insights:

• Bitcoin (BTC) price trades below its May highs, where a major liquidity cluster could trigger a short squeeze.
• Breaking above May’s peak confirms a shift in Bitcoin’s price and bullish market structure.
• Bitcoin ETFs recorded $730.87 million in daily inflows, raising concerns that Bitcoin Price may approach a local top.

Bitcoin price trades at $79,464 after failing to retain an intraday move above $82,000. The reversal places the BTC price below a major liquidation cluster around $82,000–$83,000. Meanwhile, large ETF inflows have renewed comparisons with earlier local peaks.

CryptoQuant reports that short covering, rather than new buyer demand, supplied most of the rally’s momentum.

Bitcoin Price Retreats Below $80,000

The price of Bitcoin began its intraday advance near $78,500 and reached $82,107. It then consolidated around $81,000 for several hours before sellers pushed it below $80,000. Consequently, the decline erased most intraday gains, although BTC retained a 1.2% increase over 24 hours.

Immediate support sits near the daily low of $78,459. Meanwhile, $80,000 represents the first recovery level for the BTC price. A rebound would return attention to resistance between $81,500 and $82,100.