According to CoinMeta, the price of Bitcoin remains below $80,000, and on-chain data indicates that the market is in a phase of accumulation and expansion. The DTMM indicator is at 2.03, with the current price at $78,419, which falls between the 1.5-fold accumulation range and the 2.5-fold expansion range. Based on the data from CryptoQuant, the market has not yet entered a strong expansion phase, but it has surpassed the level of deep accumulation. The realization price for short-term holders is $69,371, and the MVRV reading is 1.13, indicating that this group is experiencing gains from their holdings. The funding rate is nearly neutral, and the Coinbase premium index is negative, suggesting weak spot buying pressure from the United States. These signals are keeping the Bitcoin price within the current range; the market is still supported, but it remains vulnerable to changes in buyer or seller behavior.