Bitcoin Price Analysis: On-Chain Metric Says BTC Is Coiling for a Big Move
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Bitcoin is trading at $77.5k as the third week of May closes, recovering from the $75k–$76k support zone after a failed breakout above $80k last week. On-chain metrics and a rising ascending-channel floor indicate the pullback was absorbed and sentiment is rebuilding to levels seen at the start of the previous bull market, suggesting constructive crypto market conditions for price action and adoption.
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Bitcoin is trading at $77.5k as the third week of May draws to a close. The market is recovering quietly from the $75k–$76k support zone after last week’s failed breakout attempt above $80k.
The structure has absorbed the pullback without breaking, the ascending channel floor continues to rise, and the on-chain picture tells a story that the price chart alone undersells. Sentiment is rebuilding from levels last seen at the very beginning of the previous bull market.
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$ 63.90K
-2.90%
$ 0.00225
-18.8%Predictions Markets
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In This News
Coins
$ 63.90K
-2.90%$ 0.00225
-18.8%Predictions Markets
See what traders are focused on
Share:
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