Bitcoin Faces Another Drop as $80M in Buy Orders Cluster at $78K–$79K
- —Over $80 million in buy orders sit in the $78,000–$79,000 range
- —BTC fell to $79,278, rebounded to $80,291, down about 5% on the month
- —Much of the liquidity is futures orders that can be cancelled before execution
- —Stablecoin reserves on exchanges fell to $60.62 billion, a 12-month low
Why it matters: Spot demand remains weak, so the $78K–$79K liquidity may not be enough to absorb selling pressure and prevent further downside.
Source: The Crypto Basic