Bitcoin hit by $20 million-an-hour selling pressure above $70,000

📰 CoinDesk


📉 Bearish

AI Summary

Bitcoin is experiencing significant selling pressure of $20 million per hour whenever the price rises above $70,000. This indicates that many holders are taking profits at this key psychological level, creating strong resistance.

Market Impact

This heavy selling pressure will likely cap Bitcoin's upside momentum and could lead to price rejection or consolidation below $70,000. Traders may become more cautious about buying at these elevated levels.

💡 Trader Note: Watch for sustained breaks above $70,000 with volume – if selling pressure continues at this rate, consider the level as strong resistance until profit-taking subsides.