Bitcoin has hit a wall around $80,000. According to analysts at XWIN Japan, the pause is all about investors cashing out—now that the market is back in profit, plenty of folks are locking in gains. Still, demand is holding up thanks to steady spot ETF inflows and a drop in US Treasury yields, the experts added.

Why Bitcoin's Stuck at $80,000

XWIN Japan says nearly every investor group is back in the green, which is driving some to sell at these levels. The selling pressure is really about the big chunk of the market that's finally seeing profits again.

What's Propping Up Demand

At the same time, Bitcoin is getting a boost from strong ETF inflows. Another tailwind: falling yields on US Treasuries, which makes risk assets like Bitcoin more attractive right now.

Unrealized Profit Metrics

According to XWIN Japan (citing CryptoQuant), the unrealized profit indicator sits at 21.1 for long-term holders, 13.4 for short-term holders, 13.9 for capital that's less than a month old, and 5.3 for the newest investors. In their view, these numbers point to a healthier market overall.

Source: ForkLog.