Bitcoin slips below $80,000 as on-chain metrics revisit March 2022 parallels

Bitcoin has dropped under $80,000 after a roughly 37% rebound from earlier lows ran into resistance near the 200-day moving average around $82,400. XWIN Research Japan highlights on-chain signals such as a 17.7% unrealized profit margin and a May 4 realized-profit spike of 14,600 BTC, while noting spot demand contraction has eased from -91,000 BTC in April to about -11,000 BTC.