Bitcoin failed to break 80k, five mountains pressing down

This morning, Bitcoin surged to 79,488, but in the afternoon, it directly dropped back to 77,615, bulls called early, sweat broke out first.

It's not that we didn't pull back, but five mountains are pressing down:

1. Geopolitical instability, high oil prices, large funds dare not move

2. 80k is the option sigh wall, 7,200 BTC options pressing down, once reached, it will crash

3. The false fire driven by futures, spot market hasn't caught up, short covering supports the fake rally

4. Before the FOMC, institutions are watching, unclear tapering stance, no one dares to rush

5. Whales offloading, wallets that haven't moved in two years transferred 300 Bitcoin to cash out

The only positive is that ETFs are still buying, supply is relatively tight.
In the short term, key support is at 77,000; holding this level keeps the bulls alive, breaking below will head straight to 75,000.
Leverage-driven markets are unstable; we still need to wait for genuine spot market rally.
$ETH $BTC