Key Takeaways:
Bitcoin tests $75,000 with $200 million to $450 million daily ETF inflows, but rising sell pressure attempts to cap gains. Whales added 270,000 BTC in 30 days, yet 11,000 BTC/hour exchange inflows signal distribution. Resistance at $76,800 may trigger a pullback unless institutional demand absorbs supply. Selling Pressure Builds as Bitcoin Rally Faces ResistanceYet the rally is beginning to show signs of strain.
Despite this, selling pressure is emerging as prices approach key technical and psychological levels. Around $76,800 sits the realized price for short-term holders, a metric that reflects the average cost basis of recent buyers. This level often acts as a trigger point where traders look to exit positions near breakeven.
The result is a two-sided market. Institutional inflows and macro-driven demand continue to provide a floor, but large holders appear to be using the rally to reduce exposure, adding supply at higher levels.
For now, the market remains finely balanced. Supply is tightening in the long term, but in the short term, the willingness of large holders to sell into strength is shaping the next phase of price action.
