Bitcoin Buying Picks Up Again, But $79,962 Remains The Key Resistance: On-Chain Data

Bitcoin is showing early signs of renewed demand after a February stretch marked by heavy selling across both retail and institutional venues, even as the broader macro backdrop remains unsupportive for risk assets. On-chain and ETF flow data now point to a market that is stabilizing, though not yet fully out of danger. That shift is notable because it is unfolding against a difficult backdrop. As CryptoQuant contributor Darkfost put it, “Despite escalating tensions in Iran, Bitcoin continues to show a degree of resilience, particularly compared to equities and commodities, which are increasingly displaying toppish market structures. This is all the more notable given that the upcoming FOMC meeting is unlikely to deliver any rate cuts.” The market, in other words, is improving in spite of macro rather than because of it. Darkfost noted that current probabilities imply roughly a 99% chance of no change from the Federal Reserve, leaving traders focused less on an immediate policy move an