Bitcoin’s inability to sustain above $70,000 comes down to one factor: selling pressure. Short-term holders are realizing profits at a staggering $18.4 million per hour, capping every rally attempt.
The Supply Profitable State has hit 60%, a level historically consistent with early bounce exhaustion in bear market recoveries. Every push higher is met with sellers eager to lock in gains.
But here’s the technical setup to watch. Bitcoin remains within an ascending channel above $70,000. If accumulation can absorb the current selling pressure, the next target is $75,000.
For young traders, this is the messy middle of a recovery. The price grinds. Sellers exhaust themselves. Accumulators build positions.
The key question isn’t whether Bitcoin will eventually break out—history suggests it will. It’s whether you can hold through the chop while others trade in and out. Those who do tend to capture the full move when it finally comes.