Bitcoin Price Stalls Below $80K Despite CLARITY Act Progress as Bulls Face Key Resistance

Bitcoin slide below $80,000 level after briefly rising to $82,000 following progress on the CLARITY Act in the U.S. Senate Banking Committee. However, the rally slowed as strong resistance continued to block further gains.

Market data shows Bitcoin has repeatedly failed to move above the $82,000 level since last week. Analysts say this price area is important because the 200-day exponential moving average (EMA) and 200-day simple moving average (SMA) are both near $82,000, making it a major technical barrier.

Some market watchers believe Bitcoin must turn the $82,000 to $84,000 range into support before a stronger recovery can begin. If the price fails again, analysts warn Bitcoin could pull back toward the $74,000 to $77,000 range.

Bitcoin Faces Heavy Selling Pressure Near $85K

Glassnode data also points to another resistance zone between $84,000 and $85,400, where investors previously bought around 1.05 million BTC. This creates a large supply area that bulls must absorb to continue upward momentum.

Bitcoin ETF Demand Remains a Key Factor

Institutional demand is another major factor for Bitcoin’s next move. Spot Bitcoin ETFs recently ended a five-day inflow streak worth nearly $1.7 billion and recorded major outflows, including $635 million in withdrawals this week.

Analysts believe steady ETF inflows could help Bitcoin regain momentum and potentially push toward the $92,000 resistance level. Meanwhile, Strategy continued buying Bitcoin, adding 535 BTC last week and increasing its total holdings to 818,869 BTC.