CryptoQuant states that Bitcoin's recent rebound is facing increasing selling pressure, with on-chain data showing a significant increase in funds flowing into exchanges. Bitcoin previously broke through $76,000, but retreated near the key resistance level of approximately $76,800. This level corresponds to the "on-chain realized price" range, historically often marking the top of a rebound as investors with large positions nearing breakeven tend to sell. Data shows that hourly inflows of Bitcoin into exchanges have risen to approximately 11,000, the highest level since the end of 2025, typically considered a potential sell signal. Simultaneously, the scale of large holders (whales) transferring funds to exchanges is also expanding. Analysts believe that if this resistance level holds, Bitcoin may face short-term downward pressure, with key support around $67,600.