Bitcoin Slips Under $78,000, Raising Doubts About a Quick Return Above $80,000

Bitcoin dipped below $78,000 on Thursday, adding to investor unease over fading momentum for a sustained rebound, The Block reported. Spot Bitcoin ETFs have logged net outflows for four straight sessions, while roughly $584 million in long positions were liquidated early in the week, keeping risk appetite subdued. Analysts say BTC is unlikely to hold above $80,000 on a durable basis in the near term unless onchain spot demand improves. Glassnode data shows Bitcoin's spot CVD (Cumulative Volume Difference) has stayed negative for nine consecutive trading days, the longest stretch of net selling since 2026. In the prior bounce toward $82,000, Bitcoin briefly regained $78,300—described as the "true market average"—before slipping back below that level. Past market cycles suggest BTC typically needs weeks to months of consolidation in this zone to confirm a change in the bull-bear structure.