Bitcoin traded around $77,000 on Monday following a weekly surge of more than 23%, marking its strongest weekly performance since mid-March 2023. The rally was supported by an announcement from the US Treasury to expand debt buyback operations, which improved sentiment across cryptocurrency markets.
Despite strong institutional backing, on-chain data indicates that investors are securing gains as the cryptocurrency approaches the psychologically significant $80,000 level.
Profit-Taking and Institutional Inflows
According to CryptoQuant data, Bitcoin holders realized approximately $1.72 billion in profits on Friday, representing the highest daily realized profit total since late November 2024. Market analysts note that sharp increases in realized profits can precede a temporary consolidation phase or correction as additional supply enters the market.
Concurrently, underlying spot demand has shown improvement. CryptoQuant's apparent demand metric shifted into positive territory for the first time since late February, indicating that net buying interest has strengthened.
Institutional participation remained robust last week. US spot Bitcoin exchange-traded funds recorded $1.92 billion in net inflows, according to SoSoValue data, marking the strongest weekly showing for these products since October 2025.
Technical Resistance and Support Levels
Bitcoin faces immediate technical resistance at the 61.8% Fibonacci retracement level of $78,490, derived from the price move between the August 2024 low and the October 2025 record high. A weekly close above this threshold could open the way toward the 50-week Simple Moving Average at $81,059, ahead of psychological resistance at $80,000. Further upside targets include the 50% Fibonacci retracement level at $87,599 and the 100-week SMA near $88,990.
On the daily chart, the Relative Strength Index has climbed to approximately 79, placing Bitcoin in overbought territory and leaving the asset vulnerable to short-term pullbacks. If selling pressure increases, potential support levels include the 200-day Exponential Moving Average at $71,781, the psychological $70,000 mark, and lower moving averages clustered around the $66,500 to $67,415 range.
