Bitcoin Slides below $70k after a Failed Breakout Attempt

Krutika Adani

Failed to Achieve a New ATH

Despite strong attempts, Bitcoin fails to achieve a new ATH thrice in a row.

Price Clamped Down by Strong Resistance

Bitcoin’s price has been clamped down by a strong resistance at $73.7k.

Stablecoin Volumes Impact Price

Report by 10x Research notes that despite a bullish undertone, markets have been hesitant in buying which was shown by low stablecoin holdings and a slightly lower stablecoin minting rate.

Wallets with Over $10M Stablecoins in a Decline

There was a marketwide decline in wallets that held over $10m in stablecoins.

Miners Also Keeping Prices Down

Earlier 10x Research also mentioned the role of miner sales in keeping BTC prices down.