Bitcoin's Make-or-Break Moment: Support at $70K

Bitcoins recent rally stalled at $82,430, marking a potential end to its bullish run. This situation mirrors Bitcoins previous relief bounce in March 2022, which ended in a significant crash. Unrealized profits are at a high of 17.7%, encouraging holders to sell. A substantial sell-off has already begun, with 14,600 Bitcoin worth $1.16 billion dumped last week. The Coinbase Premium has turned negative, indicating weaker demand from U.S. spot buyers. These signs suggest further downside risk. However, $70,000 could provide support as its the average cost for short-term traders. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1c9ddd4a0cadb68f