Bitcoin Fails to Break $70,000 Multiple Times, Weak Liquidity Suppresses Rebound

On-chain data analysis platform Glassnode states that since early February, every attempt by Bitcoin to re-establish above the $70,000 threshold has been met with a pullback due to insufficient demand. Data shows that a net realized profit outflow of only about $5 million per hour could trigger a price decline.
In contrast, during the market sentiment peak in Q3 2025, profit-taking per hour reached $200 million to $350 million, yet prices still maintained an upward trend, indicating stronger buying support at that time.
Glassnode points out that the current market is in a structurally thin liquidity environment, making it more challenging for Bitcoin to continuously recover the $70,000 to $80,000 range, and the rebound may be more turbulent.