Bitcoin price drops below $76K as onchain data sends mixed signals

Bitcoin failed to break $80,000 resistance amid weak onchain fundamentals, but rising spot CVD could support a recovery.

Bitcoin (BTC) fell below $76,000 on Tuesday after failing to break $80,000 as uncertainties surrounding the reopening of the Strait of Hormuz and macroeconomic conditions unnerved the market. Meanwhile, technicals and onchain data sent mixed signals on BTC’s ability to sustain the recovery.

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