Bitcoin Price Analysis: $80K Battle Rages On as BTC’s Next Targets Come Into Focus

Bitcoin is trading near $79.7K after a rebound from roughly $75K stalled around $80K, keeping the price in a short-term correction between support at $75K-$78K and resistance near $80K. That resistance aligns with an ascending channel's midpoint and a supply area that stopped the latest advance; earlier rebounds failed near $87K in September and early October. A daily close under $75K would break the $75K-$78K demand area and shift attention to support near $73K. CryptoQuant's Adjusted Spent Output Profit Ratio, whose 30-day exponential moving average tracks whether on-chain coins are spent at profit or loss, has slipped toward 1.003; above 1 signals profit-taking and below 1 signals loss-driven selling.