Key points: Bitcoin remains under pressure as the bears attempt to hold the price below the crucial $74,508 level. Several major altcoins are struggling to bounce off their support levels, increasing the likelihood of the resumption of the downtrend. Bitcoin ( BTC ) ( CRYPTO: BTC ) is facing renewed selling pressure after bulls pressed for a recovery but failed to sustain gains, with the price slipping beneath the key mark of $72,169. In a Monday note, Galaxy Digital research lead Alex Thorn warned that BTC could slip toward its realized price near $56,000 in the coming weeks, citing a lack of catalysts capable of reversing the trend. The absence of strong on-chain or macro catalysts has kept buyers on the defensive, and the market has yet to demonstrate a convincing bid at higher levels. Not everyone is certain the bottom is in. On X, Bitwise chief investment officer Matt Hougan argued that the crypto markets are likely to rebound sooner rather than later, signaling that the longer-te...
Bitcoin’s struggle to sustain a move above $70,000 intensified midweek, fueling speculation about a potential retreat toward the $60,000 area. The price pressure arrived alongside a wave of futures liquidations and a notable contraction in open interest, while exchange inflows nudged higher, underscoring a broader mix of leverage unwinding and tactical positioning. The net effect has traders weighing whether the catalysts are crypto-specific or part of broader macro dynamics shaping risk assets. As BTC hovered in the mid-$70,000s, the market faced a confluence of on-chain signals and liquidity shifts that could influence the near-term path. Key takeaways Around 744,000 BTC exited major exchanges in 30 days, equating to roughly $55 billion at current prices. BTC futures cumulative volume delta (CVD) declined by about $40 billion over the past six months, signaling intensified deleveraging. Exchange reserves rose by 34,000 BTC since mid-January, increasing near-term supply risk as ...