Onchain data explains why $BTC can touch $80k but the hard part is staying there.
All major holder cohorts are now sitting in aggregate profit, which creates a much larger pool of potential sellers.
Long-term holder SOPR jumped to 1.48, while short-term holders are now realizing profits at a faster rate.
At the same time, the Coinbase premium remains negative at -0.015.
It suggests US spot demand still hasn’t fully returned, even after BTC’s 25%+ weekly move.
So the key variable now is whether fresh demand can absorb the BTC being sold by profitable holders.
If ETF inflows continue while the Coinbase premium turns sustainably positive, the structure changes quite a bit.
$80K is the headline level. Is new demand strong enough to turn it into support
All major holder cohorts are now sitting in aggregate profit, which creates a much larger pool of potential sellers.
Long-term holder SOPR jumped to 1.48, while short-term holders are now realizing profits at a faster rate.
At the same time, the Coinbase premium remains negative at -0.015.
It suggests US spot demand still hasn’t fully returned, even after BTC’s 25%+ weekly move.
So the key variable now is whether fresh demand can absorb the BTC being sold by profitable holders.
If ETF inflows continue while the Coinbase premium turns sustainably positive, the structure changes quite a bit.
$80K is the headline level. Is new demand strong enough to turn it into support
