Since the beginning of February, Bitcoin has repeatedly hit an invisible barrier at $70,000. On-chain data analysis reveals that each breakout attempt is thwarted by net profit-taking of $5 million per hour, exhausting available demand.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
¿Why can't Bitcoin break through the resistance?
Since the beginning of February, Bitcoin has repeatedly hit an invisible barrier at $70,000. On-chain data analysis reveals that each breakout attempt is thwarted by net profit-taking of $5 million per hour, exhausting available demand.