Bitcoin faces continued selling pressure between $61,700 and $70,500
According to IntoTheBlock data, around 7 million addresses purchased Bitcoin in the range of $61,700 to $70,500. Due to a large number of traders being at a loss in this price range, there is continuous selling pressure whenever the Bitcoin price approaches this level, and many investors seek to achieve a balance between profit and loss. This is also the reason why Bitcoin is difficult to reach new highs, as only strong momentum can break this trend and reach new highs.
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