Bitcoin (BTC) traded at $77,794 Thursday morning, up just 0.4% over 24 hours, after failing to sustain a push toward the $80,000 level.
The Overnight Rally and Retreat
Bitcoin reached an intraday high of $79,388 on Wednesday evening. Buyers were unable to extend the move. The token slid back below $78,000 by Thursday morning in Asia trading hours.
Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) all followed Bitcoin lower. CoinDesk attributed the broad decline to profit-taking after the recent multi-day recovery across major digital assets. XRP (XRP) also posted losses in the same period.
CoinGecko data showed Bitcoin at $78,027 at the time of this scan, with a 24-hour trading volume of approximately $45.9 billion.
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Recent History
Bitcoin had been recovering steadily after a sharp correction in early April 2026. The token had briefly dipped toward the $74,000 range during peak tariff-related macro uncertainty. The recovery brought BTC back toward the $78,000-$80,000 band within two weeks.
The $80,000 level has acted as a psychological resistance point across multiple attempts. Each rally toward that figure has triggered a wave of selling from short-term holders and futures traders looking to lock in gains. Long-term holders, as measured by on-chain data, have largely maintained positions through the volatility.
Crypto ETF inflows had been a positive factor in recent sessions. Yellow reported earlier this week that (see prior Yellow coverage), a milestone that had supported sentiment broadly across digital assets.
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Market Context
The pullback does not yet represent a technical breakdown. Bitcoin remains above key moving averages on the daily chart, and the broader trend since the February 2026 lows remains intact.
Altcoin market structure has diverged somewhat. CoinGecko trending data shows tokens like Spark and CHIP posting large single-day gains even as BTC and ETH pull back. That divergence often appears in mid-recovery phases when risk appetite shifts toward smaller assets.
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