BTC holds $78K despite selling pressure, with no sign of market breakdown

Bitcoin is holding in a range around $78,000, down about 1% on the week, while spot and perpetual futures selling and ETF outflows continue to weigh on the market, according to a CoinNess analysis of Glassnode data. The analysis found capital inflows are continuing and profitability remains at a high level, indicating the market is absorbing selling pressure rather than showing signs of a trend breakdown.