<ul><li>Bitcoin has found support at the key $80K level, prompting a bullish rebound.</li><li>The 200-day moving average acts as a significant resistance, suggesting a likely consolidation phase within the $80K–$87K range in the short term.</li><li>Bitcoin is likely to continue consolidating within the $75K–$87K range until a decisive breakout occurs.</li><li>The on-chain analysis indicates that the ongoing drawdown is less likely to be the beginning of a bear market and more likely a healthy correction within a broader bullish cycle.</li></ul>

Bitcoin Price Analysis: $87,000 Next as BTC Holders Refuse to Sell

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