BTC struggles near $76,000 support after failing to sustain gains above $82,000 amid resistance from long-term holders.
Bitcoin fell below $79,000 as sellers dominated, erasing a brief recovery above $82,000. The pullback follows resistance near $84,000, with bears preventing a sustained rally.
Analysts noted that investors who bought BTC near $86,900 between November and February may sell near their entry price, capping upward momentum. Additionally, BTC faces resistance at its 200-day moving average around $82,400, a level that previously triggered a downtrend in 2022.
Despite the decline, bulls have defended the $76,000 support, suggesting lingering buying interest at lower levels.