Bitcoin hit by $20 million-an-hour selling pressure above $70,000
CoinDesk
Bitcoin faces significant selling pressure above $70,000 as investors consistently engage in profit-taking, hindering further price momentum.Summary
Bitcoin is struggling to sustain gains above $70,000 due to intense selling pressure, with data from Glassnode indicating that investors are liquidating over $20 million in BTC per hour. This recurring behavior characterizes the $70,000–$80,000 range as a persistent distribution zone rather than a base for further growth. As market rallies are met with immediate supply, Bitcoin's price ceiling remains driven by investor behavior rather than technical factors, especially as broader economic concerns continue to influence market volatility.
(Source：CoinDesk)