Bitcoin Defends Crucial $78,000 Range as Macro Uncertainty Sparks ETF Volatility

Bitcoin Consolidates Above Key Floor

Bitcoin (BTC) opened November trading in the $78,000–$81,500 band, successfully absorbing a wave of late-October market-wide liquidations that swept across both crypto and tech assets.

On-Chain & Derivatives Metrics

• Long-Term Holder Supply: Over 74% of circulating Bitcoin has remained dormant for six months or longer, indicating deep conviction among fundamental holders.
• Funding Rates: Perpetual futures funding rates normalized to neutral levels (0.005%), signaling that excessive retail speculative leverage has been largely washed out.
• Support Levels: Analysts cite the 200-day exponential moving average near $76,200 as the decisive bull-market demarcation line.