VERIFIEDBy Xavier Rivera· ·1 min read
Bitcoin Faces $20M/Hour Selling Above $70K
Bitcoin faces over $20 million per hour in profit-taking sales above $70,000, per Glassnode. This distribution zone since February caps rallies and turns upside momentum into selling events.
Source:CoinDesk
TL;DRAI · 60 sec read
Bitcoin encounters over $20 million in BTC sold per hour above $70,000, according to blockchain analytics firm Glassnode.
The $70,000–$80,000 zone acts as a distribution range since February, where rallies face thin liquidity and profit-taking pressure that caps upside. Glassnode stated on X: "Every approach to the $70k–$80k band faces thin liquidity and profit-taking pressure, capping the bounce. Another bounce to >$70k range was exhausted by >$20M/Hour profit realization."
Profit-taking rises sharply since prices moved above $70,000 last week, turning rallies into liquidity events as holders sell into strength.
Prices briefly touched nearly $74,000 on Saturday before slipping below $71,000, amid a breakdown in Islamabad peace talks between the U.S. and Iran that pushed oil higher and weighed on U.S. stock futures.
Glassnode data shows this behavioral pressure, rather than technical factors, limits bitcoin's ceiling until the $20 million-per-hour selling eases.
The $70,000–$80,000 zone acts as a distribution range since February, where rallies face thin liquidity and profit-taking pressure that caps upside. Glassnode stated on X: "Every approach to the $70k–$80k band faces thin liquidity and profit-taking pressure, capping the bounce. Another bounce to >$70k range was exhausted by >$20M/Hour profit realization."
Profit-taking rises sharply since prices moved above $70,000 last week, turning rallies into liquidity events as holders sell into strength.
Prices briefly touched nearly $74,000 on Saturday before slipping below $71,000, amid a breakdown in Islamabad peace talks between the U.S. and Iran that pushed oil higher and weighed on U.S. stock futures.
Glassnode data shows this behavioral pressure, rather than technical factors, limits bitcoin's ceiling until the $20 million-per-hour selling eases.
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