Bitcoin News

Story: Bitcoin Hovers Near $66K as Sellers Keep Control

By Steven Anderson

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Technical Picture Gets Messy. Bitcoin's daily chart shows a longer-term downtrend that's keeping bulls frustrated.

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Exchange Data Tells a Different Story. CryptoQuant analysts spotted something concerning - Bitcoin reserves on exchanges climbed 12% over…

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Bitcoin can't break free. The cryptocurrency traded between $65,725 and $66,230 on Thursday morning while sellers maintained their grip on the market, keeping prices well below…

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The 24-hour trading range stretched from $65,934 to $69,074, but that brief touch of $69K didn't last long. Market cap sits above $1.31 trillion with trading volume hitting $45.

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Bitcoin's daily chart shows a longer-term downtrend that's keeping bulls frustrated. The cryptocurrency keeps bumping its head against $69,000, and each rejection sends it back…

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Glassnode data shows active Bitcoin addresses jumped to around 900,000 recently, which sounds bullish but hasn't translated to price gains yet. And whale activity?

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CME Group's Bitcoin futures contracts show stable open interest around 25,000 contracts. Institutional money isn't running away, but it's not piling in either.

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MicroStrategy hasn't bought any Bitcoin since March 15, when they grabbed 1,045 coins. Their silence speaks volumes about current market conditions.

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Elon Musk tweeted something vague about crypto on Thursday but didn't mention Bitcoin directly.

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Binance CEO Changpeng Zhao tried to calm nerves with a Thursday tweet: "Recent price movements are typical of Bitcoin's historical volatility patterns.

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Arcane Research dropped an interesting report showing Bitcoin's correlation with traditional markets has spiked over the past month.

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The SEC hasn't said anything new about Bitcoin regulation lately, leaving everyone guessing about potential policy changes.

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Grayscale's Bitcoin Trust (GBTC) keeps trading at a 15% discount to its net asset value, which tells you something about institutional demand through traditional products.

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Bitcoin's price volatility over the past month has been wild, with sharp intraday swings that make position sizing tricky. One minute you're up 3%, the next you're down 4%.

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The cryptocurrency needs to break $69,000 convincingly to change the current narrative, but sellers keep showing up at that level.

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