On April 28, 2026, Bitcoin (BTC) experienced a decline, falling below $76,000 after struggling to exceed the $80,000 mark. The drop occurred amid concerns about the reopening of the Strait of Hormuz and prevailing macroeconomic conditions. Currently, Bitcoin is navigating a tight trading range, facing significant technical support at $75,500 while encountering strong resistance near $80,000.
Despite a recent recovery of nearly 30% from lows below $60,000 in February, selling pressure has halted progress in the $78,000 to $80,000 zone. Analysts from MN Capital noted that the recent price action reflects typical behavior prior to the upcoming FOMC meeting, indicating potential consolidation around these levels.
Key metrics reveal that buy pressure is increasing, but both spot volume and active addresses are on the decline. The average purchase price for approximately 298,560 BTC stands at $75,500, reinforcing this level as critical support. Conversely, a substantial resistance area exists around $78,000, where investors acquired about 335,650 BTC.