TLDR:
- Bitcoin price correction risk increased after BTC failed near $80,000 and slipped toward $77,325 following a $15,000 two-day advance.
- Bitcoin whale selling added supply near resistance, led by one address that disposed of 7,700 BTC worth $576.6 million in three days.
- Bitcoin RSI reached historically stretched short-term levels, while the Fear and Greed Index jumped from 34 last week to 71 today.
- The $75,000 to $76,000 zone provides initial support, while stronger ETF inflows could offset sales from large Bitcoin holders.
Bitcoin has flashed signs of exhaustion after a surge carried it close to $80,000. The move added more than $15,000 in 48 hours before sellers rejected the breakout. Bitcoin now trades near $77,325, with an intraday range between $76,400 and $78,763. The pullback has raised Bitcoin price correction concerns after one of its strongest weekly advances since 2024.
The rally still has support from spot exchange-traded fund inflows and changing US liquidity expectations. Yet heavy whale selling, stretched momentum, and fast-rising market greed show traders are protecting gains. Those signals place the $80,000 resistance and support levels under closer scrutiny.
Bitcoin Price Correction Risk Builds Below the $80,000 Level
The rejection followed a sharp advance from the mid-$60,000 area. Bitcoin reached $79,463 on Friday, its highest price since May, before losing the $78,000 level. TradingView shows a 24.27% weekly gain, leaving late buyers exposed if momentum weakens.
Bitcoin whale selling increased while the rally approached major resistance. Lookonchain tracked one unidentified address selling another 2,700 BTC for about $211.8 million on Saturday. The same wallet sold 7,700 BTC worth $576.6 million across three days.
A separate wallet ending in bc1qqt sold 550 BTC for $39.43 million. That transaction locked in an estimated $4.5 million profit. These sales do not confirm a Bitcoin price correction has started. They add supply near a major resistance zone after a fast repricing.
Bitcoin whale selling can pressure thin order books, particularly after forced short covering helped accelerate the rally. More than $4.3 billion in crypto shorts were liquidated from Wednesday through Friday. That mechanical buying fades once exchanges close leveraged bearish positions.
Spot demand offers a counterweight. United States Bitcoin ETFs attracted $606.3 million on Thursday and about $1.61 billion during the week. Those inflows show institutions participated in the rebound.
The US Treasury also plans to double long-dated bond buybacks to at least $4 billion per operation. Lower yields and a weaker dollar improved demand for scarce assets. Sustained ETF inflows could absorb whale supply, while slower demand would increase Bitcoin price correction risk below $76,000. Bitcoin must hold the $75,000 to $76,000 breakout zone to prevent sellers from gaining short-term control.
Whale Selling and Bitcoin RSI Now Test Rally Strength
Momentum gauges present a second warning. Bitcoin’s four-hour RSI reached its highest recorded level during Friday’s move toward $79,700. The reading placed RSI at 87 and the Money Flow Index at 100, both deep in overbought territory.
Bitcoin RSI measures the speed and size of price changes. Traders often treat readings above 70 as overbought. Bitcoin price correction signals can fail during strong trends. Strong trends can keep RSI elevated while prices continue rising.
Sentiment has changed just as quickly. The Crypto Fear and Greed Index stands at 71, classified as greed. It registered 72 yesterday, compared with 34 and fear one week ago. The 37-point weekly swing shows how rapidly caution turned into enthusiasm.
Rising greed can bring demand, but it also leaves the market sensitive to disappointing flows. Buyers who entered near $80,000 may sell quickly if Bitcoin loses the recent breakout. Initial support sits around $75,000 to $76,000. The broader $70,000 to $72,000 area would become important during a deeper retreat.
A break above $80,000 would weaken the Bitcoin price correction case. It would also require enough spot demand to absorb continued profit-taking. Failure at that level keeps a lower high possible on short timeframes.
Jim Cramer added a social-media talking point after recommending Bitcoin instead of Bitmine stock. Traders often joke about taking the opposite side of his calls. That “inverse Cramer” meme is not a market indicator. Cramer’s remark provides no measurable evidence about price direction, support, volume, or liquidity.
