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U.Today - Bitcoin (BTC) is in a tight spot. Right now, it is trading at $81,800, sitting between two major liquidity zones that could determine its next move. On-chain data from IntoTheBlock points to critical support at $79,270 and $69,450. If those levels do not hold, things could get ugly fast.
Resistance is not far either. Between $84,296 and $86,753, about 287,200 BTC are held by 556,030 addresses. That is a lot of Bitcoin sitting in a range where holders might be looking to sell, creating what is often called a "sell wall." Breaking past this level will not be easy.
On the other hand, the first safety net is in the $79,274-$81,731 zone. Roughly 301,410 BTC is parked there, spread across 368,550 addresses. If that does not hold, the next critical level is much lower - $69,445 to $71,902, where 313,160 BTC is sitting in 752,840 addresses.
That is dangerously close to $69,000, a price that once marked Bitcoin’s peak in 2021 before being surpassed in March 2024.
Dropping back to that level would not just be another dip. It would be a psychological setback, a reminder of Bitcoin’s past struggles before breaking new highs.
For months, the market has been trying to build a strong foundation above old all-time highs, and a slip toward $69,000 would raise questions about whether Bitcoin’s latest rally is running out of steam.
At this stage, everything comes down to liquidity. If demand weakens, the Bitcoin price could find itself drifting toward these lower support zones.
If buyers step in, Bitcoin might get another shot at breaking through resistance and moving higher. Either way, the next few days and weeks could define where Bitcoin is heading next.