BitcoinBTC( ) has reclaimed $70,00 as support. However, the market continues to be cautious because technical charts suggest a set-up similar to that of the bull trap in January 2026.
Bitcoin’s liquidity on the selling side has grown dramatically since the last range test. Ardi reports that Bitcoin ask order levels reached a 2-month high. The trader said,
“Asks on Bitcoin just hit a 2-month high. $1.57B in sell-side liquidity stacked above price vs $1.125B in bids below.”
In a band of 5% around the current spot price, sell orders are greater than demand by about 40%. This creates a thicker supply above the price. The bids also form a thin support cushion beneath the BTC price.
Ardi pointed out that the last similar setup happened in January, after Bitcoin briefly rose above $98,000. Bitcoin moved above $72,000 in a similar way before the price dropped back to the middle of the range. The increased liquidity of the ask during a test often indicates that traders want to make money from rebounds.
Other positioning metrics also turned The same way. The average 30-day volume of Bitcoin net takers stayed positive in March at $83 millions, which indicates an increase in buying through market orders.
Related: Bitcoin price analysis warns of potential dip after $72K liquidity sweep
Can BTC’s supply underwater cap its recovery?
Bitcoin cost data from short-term Bitcoin holders (STHs) shows that average Bitcoin price was significantly higher when they entered the market. STH realized prices, which track the average purchase price of coins that have been held less than six months, are around $88,900.
As per Bitcoin researcher Axel Adler Jr. has determined that the most significant supply cluster exists between $86,000-$99,000. This is where many coins have been accumulated since November 2025. The range between $86,000 and $99,000 is the primary breakeven point for the majority of short-term markets, which makes it an important market inflection area.
Positively, the data on realized profits and losses shows that selling pressure is beginning to decrease. Darkfost, a crypto analyst noted Last week’s net profit and loss was -$264 millions, with $611 in losses realized against $346 in profits.
This figure is much lower than the weekly loss of $2 billion recorded in February when the drop from $60,000.
Bitcoin is now much more below the short-term cluster than it was in January. This distance reduces the breakeven selling which is common during small rallies.
In order to avoid a potential loss, some short-term traders may wait to see if prices rise. They could be closer to $86,000.
The near-term pressure to sell Bitcoin will be eased if Bitcoin can move above $72,000 to $70,000. However, a bigger shift could occur if Bitcoin reaches the $86,000-$89,000 area, which is where the majority of short-term investors reach breakeven.
Related: Strategy records biggest STRC issuance day with estimated 1,420 BTC buy
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Source: cointelegraph.com
