The price of Bitcoin has stabilized at $80000, and on chain and fund indicators show strong bull market momentum

Since hitting a high of $82800 on May 6th, Bitcoin has experienced a pullback of approximately 2.5%, and market analysis suggests that its upward structure remains intact. Swissblock pointed out that Bitcoin has re entered the price expansion range, with the 21 week EMA surpassing the 20 week SMA and the trend turning bullish. The current price is consolidating around $80000, with key support from the "real market average" and short-term holding costs, and the upper pressure zone at $85000. Spot buying has increased, and the proportion of speculative derivatives has decreased. The Stablecoin Supply Ratio has rebounded from historical lows, and the stablecoin supply ratio has risen to 2.8, reaching a 12-month high. On chain data shows that the daily transaction volume of Bitcoin increased by 116% to 831400, the number of active addresses increased to 707700, and the total transaction fee reached 27900 US dollars. According to Glassnode data, the 90 day spot Taker CVD has turned positive, with spot buying dominating the market and the indicator rising to $620 million, reflecting an increase in active buying sentiment. Overall, Bitcoin is still in the stage of strong trend expansion.