BTC consolidates near $77,000 as traders take $1.72B in profits

Key takeaways

• Bitcoin is trading near $77,000 after climbing more than 23% last week, marking its most impressive weekly advance since March 2023.
• Market participants realized $1.72 billion in profits on Friday, representing the highest single-day total since November 2024.
• US spot Bitcoin ETFs experienced $1.92 billion in weekly net inflows, marking their strongest performance since October 2025.
• The cryptocurrency faces immediate overhead resistance at $78,490 and $80,000, with subsequent upside targets identified at $81,059, $87,599, and $88,990.

On Monday, Bitcoin hovered around the $77,000 mark following a stellar weekly rally of over 23%—its most robust weekly performance since mid-March 2023.

This upward momentum was fueled by the US Treasury’s announcement regarding the expansion of its debt buyback operations, which injected fresh optimism into the digital asset markets.

An influx of institutional interest further bolstered the rally, as US spot Bitcoin ETFs experienced their most substantial weekly inflows since October 2025.

Even so, on-chain metrics indicate that some market participants are choosing to realize profits as the price closes in on the key psychological milestone of $80,000.

This wave of selling could usher in a brief phase of consolidation or a minor correction before Bitcoin attempts to resume its upward trajectory.

Bitcoin investors realize $1.72 billion in daily profits

According to data from CryptoQuant, Bitcoin investors secured roughly $1.72 billion in profits on Friday alone.

This marks the highest daily realized profit figure recorded since late November 2024. The rapid price appreciation last week pushed a large portion of market participants back into the green, prompting some to cash in on their gains.

Historically, sudden spikes in realized profits often precede a consolidation period or a brief pullback, as the market absorbs the newly introduced supply.

While this profit-taking does not necessarily mean Bitcoin’s overall recovery has run its course, it does suggest that the digital asset may encounter heightened selling pressure near key resistance levels.

At the same time, underlying demand for Bitcoin on spot exchanges has shown signs of improvement. CryptoQuant’s apparent demand metric has shifted into positive territory, reversing a negative trend that had persisted since late February.

This turnaround indicates a strengthening of net buying interest, which could help cushion the market even as some traders distribute their holdings.

If spot demand remains consistently strong, it could neutralize the selling pressure and support a continuation of the broader rally.

Market observers will be closely watching to see if buyers can sustain this momentum while Bitcoin consolidates below the $80,000 threshold.

Institutional market participants were key drivers of last week’s upward move. Data from SoSoValue reveals that US spot Bitcoin ETFs recorded approximately $1.92 billion in net inflows.

This represents the largest weekly inflow of the current year and the most significant weekly volume since mid-October 2025.

A continuation of these institutional inflows could offer crucial support as Bitcoin seeks to break through overhead resistance.

On the other hand, if institutional buying slows down, it may prove challenging for Bitcoin to maintain its current levels, especially given that short-term momentum indicators appear highly extended.

BTC faces immediate resistance at $78,490

Bitcoin recently interacted with the 61.8% Fibonacci retracement level at $78,490. This specific level is calculated from the trading range between the August 2024 low of approximately $49,000 and the October 2025 all-time high of $126,199.

Securing a weekly close above $78,490 would bolster the bullish technical setup, potentially clearing a path toward the 50-week Simple Moving Average (SMA) at $81,059.

To reach that point, however, Bitcoin must first overcome psychological resistance at the $80,000 mark.

Should buyers push the price above both hurdles, the next major target on the upside is the 50% Fibonacci retracement level situated at $87,599.

Additionally, the 100-week SMA near $88,990 serves as another formidable barrier within that same price region.

Following its breakout from a lengthy consolidation phase, Bitcoin continues to trade comfortably above its 200-week SMA, which sits at $64,571.

The weekly Relative Strength Index (RSI) is currently hovering around 55, remaining well above the neutral 50 threshold.

This suggests that while momentum has strengthened, the market is not yet overextended on the weekly timeframe.

The weekly Moving Average Convergence Divergence (MACD) indicator also maintains its bullish posture, having registered a positive crossover in mid-July.

With the green histogram bars expanding, upward momentum appears to be building. Collectively, these technical indicators point to the potential for further upside, provided Bitcoin can clear the resistance zone spanning $78,490 to $81,059.

In contrast to the constructive long-term setup, the daily chart signals some short-term caution.

Bitcoin is trading far above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are located at $66,786, $67,415, and $71,781, respectively.

However, the daily RSI has climbed to roughly 79, placing the asset deep in overbought territory.

While an overbought RSI does not guarantee an immediate price reversal, it frequently signals that the market is due for a period of consolidation or a minor correction following a rapid run-up.

The daily MACD remains positive, confirming that the prevailing bullish momentum is intact, though the velocity of the recent advance leaves the price susceptible to profit-taking.

In the event of a pullback, the 200-day EMA near $71,781 serves as the initial line of key technical support.

The psychologically significant $70,000 level represents another critical area where buyers are likely to step in if selling pressure intensifies.

A more pronounced correction would bring the 100-day EMA at $67,415 and the 50-day EMA at $66,786 into play.

This support zone is further reinforced by horizontal support at $66,500. If these levels fail to hold, Bitcoin could slide toward the next major demand area near $62,300.

Ultimately, Bitcoin’s near-term trajectory hinges on whether buyers can absorb the ongoing profit-taking and push the price past $78,490 and $80,000. Successfully doing so would bring the $81,059 target and the $87,599 to $88,990 zone back into focus.