BTC’s Standoff at $80k: Bullish Momentum vs. Cautious Markets The April 28 price action paints a classic mixed picture for Bitcoin, as the rally from February’s $60k low (now +30%) hits a wall at the critical $78k-$80k supply zone. Why the stall? This range aligns with the 20-week EMA and Glassnode’s URPD data showing over 335,000 BTC in supply at $78k, creating heavy selling pressure. Meanwhile, macro risks linger — Holz Knorr Strait reopening uncertainty and pre-FOMC jitters keeping traders on edge. On-chain signals are split: - Bullish: Spot CVD has surged nearly 200% week-over-week to $54.8M, a clear sign of institutional buying interest. - Bearish: Spot volume dropped 13.8% to $59.9B, and active addresses fell 1.6%, indicating fading retail participation. Key levels to watch: - Immediate support at $75,500, where 298,560 BTC were bought on average, also the confluence of 20-day/100-day EMAs and the rising channel’s lower bound. - A break above $80k would confirm the next leg up, while a drop below $75.5k could trigger deeper profit-taking. As MN Capital’s Michael van de Poppe put it: "This pullback is typical behavior before FOMC — we’re still in a strong market phase." What’s your take? Is this a healthy consolidation or the start of a deeper correction? Drop your thoughts below 👇 #BitcoinAnalysis #OnChainData #CryptoMarkets