Bitcoin Struggles Near $77K as Weak Demand Caps Rally Momentum

Bitcoin’s latest push toward $77,000 is facing mounting resistance, with traders taking profits and limiting the strength of each breakout attempt. Despite briefly climbing to around $77,400, the rally has struggled to sustain momentum amid a lack of strong spot buying and limited long leverage.

Orderbook Data Signals Heavy Selling Pressure

Market data shows more than $130 million in sell orders stacked between $76,700 and $79,300, creating a significant barrier for further upside. While derivatives positioning offers a slight edge to bulls, the advantage remains fragile.

Negative funding rates in Bitcoin futures suggest that short sellers are still active, though a small negative long-short delta indicates bulls are beginning to gain ground. If prices move higher, short liquidations could accelerate gains, particularly above $76,800 where large clusters of short positions are at risk.

Lack of Spot Volume Weakens Breakout Attempts

Technically, Bitcoin has reclaimed $75,000 as support and moved back above its 20-day moving average near $76,000. However, the absence of strong spot market participation remains a critical weakness.

Most recent price moves have been driven by liquidations rather than fresh capital inflows. Without increased spot demand or higher leverage from long positions, Bitcoin’s rallies are likely to remain short-lived, keeping the $77,000–$80,000 zone firmly contested.