Bitcoin Price Remains Stagnant Below $80,000 Amid On-Chain Resistance

The global cryptocurrency market has been closely watching the Bitcoin price, which continues to hover below the $80,000 mark. According to on-chain data, the realized price for short-term holders is around $80,700, forming a recent resistance point.

Despite this, the Asian trading session remains sluggish, with spot Bitcoin ETF trading volume in Hong Kong being subdued. Regional capital is instead flowing into IPO markets of mainland China's AI and tech companies.

In contrast, U.S. spot Bitcoin ETFs are seeing outflows, which may weaken buying pressure and impact Bitcoin's recent upward momentum. With Friday's U.S. employment report looming, the top of the trading range appears to be around $80,000, casting uncertainty over future price movements.