Bitcoin’s push toward $76,000 faces significant headwinds that could slow down or halt its ascent, according to a recent report.
The timing of the spike—coinciding precisely with Bitcoin’s attempt to retest $76,000—suggests that holders are responding to price appreciation by positioning for distribution, the CryptoQuant analysts noted.
The $76,800 level represents the traders’ on-chain realized price, a major bear market resistance that has historically capped relief rallies. In January 2026, this band capped Bitcoin’s ascent, triggering a 35% drop.
A closer look at the inflow data reveals the mean Bitcoin exchange deposit surged to 2.25 BTC, the highest daily reading since July 2024, driven by large individual deposits to Binance exceeding 1,000 BTC.
“The increase in average deposit size confirms the inflow spike is large-holder driven—a retail-driven surge would lower, not raise, the average deposit size,” the report noted.
The same pattern was seen in January 2026, with average deposits peaking at nearly 2 BTC ahead of Bitcoin's double-digit decline.
These metrics, in combination with large deposits growing from less than 10% to more than 40% of total exchange inflows within days, indicate elevated near-term selling pressure.
Selling pressure mountsWhile Bitcoin’s ascent from around $64,000 to above $75,000 was impressive, on-chain data shows increased selling pressure. The speed of this shift signals urgency among large holders to position for distribution as prices test the $76,000 zone.
If the bearish outlook plays out, on-chain data reveals $67,600 as the next key support level, which is the lower band of the traders’ on-chain realized price.
