Bitcoin slips below $80,000: Why the 'Trump rally' is hitting a wall of profit-taking

CryptoQuant says traders are cashing out into strength, Enflux ties the move to easing Hormuz tensions, while Glassnode argues bitcoin has reclaimed key levels needed for a broader recovery. What to know : Bitcoin briefly broke above $80,000 before slipping back as on-chain data showed heavy profit-taking, especially from short-term holders. Analysts are split on the move, with CryptoQuant and Enflux framing it as a fragile, macro-driven relief rally while Glassnode sees early signs of a structural recovery but not a clean breakout. Key levels around $78,200 to $79,100 have been reclaimed, but resistance near $85,200, ongoing long-term holder profit-taking and cautious prediction markets point to lingering skepticism about a sustained bull run.