Analysis: Bitcoin hovers near $76,800; market eyes whether the monthly closing price can hold the key support level.

According to CoinDesk, Bitcoin held steady near $76,800 on Tuesday, while Ethereum edged down 0.1%. Major altcoins continued weakening following Monday’s sell-off. Traders are closely watching Bitcoin’s monthly close above $76,000—Tom Lee, Chairman of Bitmine, previously stated that a monthly close above this level would confirm a bull market. The WLFI token fell 3.3% after its treasury firm, AI Financial, warned it may not remain solvent through year-end; the token has declined roughly 77% since its September launch. CoinMarketCap’s “Altcoin Season” index retreated to 33/100 after briefly surpassing 50/100 last week. In the derivatives market, total futures notional trading volume rose from $159 billion to $201 billion, open interest remained around $126 billion, and liquidations dropped from over $600 million to $294 million—indicating an orderly market adjustment rather than forced deleveraging. Ethereum’s 30-day implied volatility hit a year-to-date low, while the Bitcoin Volatility Index held near its low of ~40%, suggesting the current sell-off is relatively orderly.