Krutika Adani
After reaching $69,000, Bitcoin's price cools to $66,300 as profit booking occurs.
Currently, over 96% of Bitcoin holders are in profit, with the majority being long-term investors, indicating solid market confidence.
A resistance level has emerged with $1.6 billion in short positions around the $69,000 mark.
If Bitcoin moves beyond $69,000, it could trigger a short squeeze, pushing the price beyond $73,700.