Bitcoin Price Crosses $70,000, Yet It Faces Risk of Selling Pressure

Bitcoin’s price experienced a breakout rise in the last 24 hours, fueled by renewed optimism from investors. The cryptocurrency traded at $72,521, holding above the critical $72,294 support level.   While this uptick offers a glimmer of hope for short-term gains, the macro outlook remains a concern, leaving many cautious about Bitcoin’s next move. Bitcoin’s Past Suggests Further Decline Ahead The Percent of Supply in Profit metric has recently broken below its -1 standard deviation threshold, sitting at approximately 57% source: https://beincrypto.com/bitcoin-price-crosses-70000-yet-it-faces-risk-of-selling-pressure/