Bitcoin faces $20M/hour selling pressure once it moves above $70K
Since breaking above $70K, Bitcoin is facing a familiar issue: heavy profit-taking.
Data from Glassnode shows over $20M worth of BTC being sold every hour as traders lock in gains.
The $70K–$80K range has become more of a distribution zone than a breakout area. Each rally into this band is met with selling pressure, limiting upside momentum.
Even recent moves near $74K quickly faded, showing that strength is being used as an exit, not an entry.
Right now, the real barrier isn’t technical it’s behavioral.
Around 1,250 $ETH has been offloaded recently valued near $2.8M in DAI. On top of that staking exposure seems to be reduced hinting at a shift in strategy.
Not panic worthy yet but definitely something smart money is watching closely.
BNB price outlook as it holds above descending channel resistance.
$BNB slipped back toward $600, dropping a few percent after giving up part of Wednesday’s rebound. This zone is acting as strong resistance, lining up with the top of a descending channel.
Data shows BNB tested this key psychological level again, where sellers stepped in. Since mid-March, price has been moving inside a descending channel typically signaling consolidation or a slow bearish trend.
$BNB broke above its channel resistance on April 7 during a short market recovery, but has since pulled back to retest the upper trendline now acting as dynamic support for bulls.
If bears take control, price could slip back inside the channel and continue the downtrend, especially with ongoing market uncertainty tied to Middle East tensions.
On the flip side, reclaiming and holding above $600 could flip this level into strong support and open the door for a fresh rally, particularly if risk appetite returns.
Indicators are mixed: MACD hints at a potential bullish crossover, while Aroon still favors bearish momentum in the short term.
For now, $600 is the key pivot. Lose it, and downside pressure likely increases. Hold it, and bulls may aim for a breakout toward $700. #Binance #BinanceWalletLaunchesPredictionMarkets