Bitcoin Breaks Through $80,000 High Wall—Latest Glassnode Analysis

GreenCandleCollector · 2026-03-23T13:50:16+00:00

According to Glassnode's latest report, Bitcoin faces significant barriers to reclaiming the $70,000-$80,000 range, with current prices at $71.20K. Declining market buying power and low liquidity complicate recovery efforts, indicating a challenging path ahead.

GreenCandleCollector

2026-03-23 13:50:16

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According to BlockBeats, a report from the cryptocurrency chain analysis firm Glassnode reveals that Bitcoin is facing unexpectedly significant barriers in regaining the $70,000 to $80,000 range, including the $80,000 level. The current BTC price is $71.2K, still a distance from the target level.

Price Stagnation Since February—Deepening Demand Drought

Since mid-February, every attempt by Bitcoin to break back above $70,000 has been met with a rapid decline in market buying power, leading to a downward trend again, according to Glassnode. Even profit-taking exceeding $5 million per hour is now a major factor driving price declines, with market participants notably holding back on buying.

This phenomenon is markedly different from the market environment in Q3 2025 last year. During that overheated period, profit-taking of $200 million to $350 million per hour still saw strong buying capacity, allowing the upward trend to be maintained.

Structural Changes in Market Liquidity—Future Concerns

The current Bitcoin market has shifted into a structurally low-liquidity environment, which is the biggest obstacle to reclaiming the $80,000 range. Reduced liquidity means even small selling pressures can easily cause price fluctuations.

Glassnode analyzes that for Bitcoin to re-establish the $70,000 to $80,000 range, market liquidity recovery and increased buyer participation are essential. With current limited buying power, the upward process is likely to be more volatile.

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