Bitcoin holds $70K – But seller pressure still caps BTC’s upside
Bitcoin is currently trading around the $70,000 level, with support forming in the $65,000–$70,000 range. However, significant seller pressure from short-term holders (STHs) is limiting upward momentum. Most STHs are underwater, with an MVRV ratio of 0.84, indicating losses of about 16%. As a result, sell orders cluster near the $75,000–$90,000 range, creating a strong resistance zone. Although ETF inflows have provided stability with over $56 billion cumulatively, spot demand remains weak, and the Coinbase Premium Index is neutral to negative. This dynamic prevents sustained breakouts, keeping Bitcoin range-bound with capped upside potential.
ambcrypto03/26 13:13