Bitcoin fails to reclaim $80K as supply absorption key

The return of all investor cohorts to net profitability at this level is a double-edged signal: it removes the panic-selling pressure that marked the recent decline, but it also means every holder now has a potential exit point near breakeven. The real test is whether demand can absorb overhead supply without price rolling over again. If absorption fails, the market may see a slower grind lower rather than a sharp flush. Watching order-book depth and exchange inflows around $80K will indicate whether this is a genuine base or just a pause.