Glassnode said in its latest report that the announcement of US tariffs has had a significant impact on major financial marekts, with several markets setting their weakest trading records since March 2020. Capital inflows into mainstream digital assets have stalled, causing liquidity to contract significantly and creating strong headwinds.
However, it is worth noting that the scale of selling of Bitcoin and Ethereum is decreasing every time the price drops, which may indicate that the short-term selling pressure is approaching exhaustion. The current round of digital asset plunge has shown a general decline pattern, and the total market value of counterfeit products has shrunk from $1 trillion in December 2024 to the current $583 billion.
Resonance analysis of on-chain data and technical models shows that $93,000 is a key psychological level - a level that Bitcoin must recover in order to rebuild its upward momentum. Downward, the $65,000 to $71,000 range remains an important line of defense for bulls.
Report: BTC, ETH's recent selling pressure is decreasing, 65,000 to 71,000 dollar range is the defense line that bulls must adhere to
2025-04-09 15:49:06
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