Analysts identify factors enabling Bitcoin to remain above $70,000., 2026/03/26 13:35:49

The leading cryptocurrency has stabilized around the $70,000 mark, attributed to a renewed influx of capital into spot Bitcoin ETFs, which exceeded $95 million over the past week, according to analysts from Glassnode.

Experts noted that Bitcoin’s growth lacks robust support from high trading volumes. However, a new capital concentration zone is emerging in the market: short-term investors holding the asset for one to four weeks have established a foundational support level near $70,200.

Conversely, a significant volume of supply is concentrated above $82,000, making this level a critical resistance zone. The support level remains vulnerable, as the current buying volume is insufficient to ensure the maintenance of the achieved price in the event of increased selling pressure, analysts argue.

The overall market sentiment remains tense and closely resembles the situation from the second quarter of 2022. Unrealized losses among investors are increasing; however, there are no signs of widespread capitulation, analysts at Glassnode noted.

Profit-taking has sharply decreased—by 96% compared to the highs of July, from $3 billion to $100 million. This indicates a decline in liquidity and a lack of new capital, according to analysts. They assert that the weakness in demand is corroborated by the dynamics of the spot market: trading activity remains low, and the asset’s price increase is largely supported by local buybacks during dips. The situation may remain uncertain for the next few weeks, with a resumption of growth anticipated only in the medium term, Glassnode specialists announced.

Previously, an analyst from the on-chain platform CryptoQuant, using the pseudonym Darkfost, stated that one of the primary factors explaining the narrow range of Bitcoin’s price fluctuations is the substantial number of coins accumulated by investors.