This round of Bitcoin's oscillation has weakened around 79,200, gradually falling back to the low of 77,768 and hovering there. The core reason is the strong resistance at the 79,500 level.

Earlier, multiple attempts to test the 79,500 level failed to break through effectively, repeatedly surging but without success, typical of a high-level trap pattern. The dense trading area above has accumulated significant selling pressure, and bullish buying power remains insufficient, with chasing high funds quickly exhausted.

Profit-taking by longs at high levels has concentrated, combined with a series of forced liquidations of long contracts, further accelerating the downward pace. The overall market structure has not reversed; it is still in a short-term consolidation and correction phase.

Going forward, focus on the strong resistance at 79,500. Any rebound without a break below is a weak correction, and the key support at 77,500 will determine the short-term strength or weakness. $BTC $ETH