The price of Bitcoin (BTC) remains in a consolidation phase for the fourth consecutive week. The cryptocurrency is facing support at the $74,000 level and resistance between $78,000 and $80,000. According to Hyblock analysts, the price rise to $78,164 in daily trading allowed many traders to close their positions at break-even. This is reported by news source.
According to the liquidity map, the largest liquidity clusters are currently forming around $75,675 and $75,700. These levels act as a "magnet" for the Bitcoin price and may determine market movement in the near future. Experts note that liquidity is growing rapidly at these points.
Although the Bitcoin price could not consolidate above the $78,000 level, major investors (whales) have increased their activity. Blockstream CEO Adam Back reported that one major investor has been buying 450 "cheap Bitcoins" daily for the past 8.5 days using the TWAP (Time-Weighted Average Price) method.
The current market situation reflects a struggle between selling pressure in the futures market and buyers in the spot market. While sales through derivatives are putting pressure on the price, spot market buyers are absorbing this volume, strengthening the $74,000 support level.
Order book data shows that sellers have become active starting at $77,700, with supply increasing further in the $78,000–$80,000 range. This means Bitcoin will face strong resistance in this price range in the coming days.
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