Bitcoin slips back below $80K as profit-taking stalls the Trump rally!

Bitcoin briefly cleared $80,000 before retreating as on-chain data revealed heavy profit-taking, particularly from short-term holders. CryptoQuant noted realized profits have hit their highest level since December, with traders sitting on an 18% unrealized profit margin — historically a threshold where selling accelerates. The firm characterized the 37% rebound from April lows as a bear-market relief rally rather than a confirmed trend reversal.

Enflux tied the initial push through $80,000 to a macro catalyst: President Trump's pause of a U.S. naval operation linked to Strait of Hormuz tensions, which sent oil prices lower and lifted equities broadly. But the Singapore-based market maker warned that similar Trump diplomatic pauses since March have either reversed within days or been misread by traders.

Glassnode offered the most constructive read, pointing out that Bitcoin has…