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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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