Data: Bitcoin has recently attempted to break through $70,000 multiple times, with weak liquidity putting pressure on the rebound

The on-chain data analysis platform glassnode stated on platform X that since the beginning of February, every attempt by Bitcoin to reclaim the $70,000 mark has encountered demand exhaustion, leading to subsequent declines. Data shows that even a net realized profit outflow of just over $5 million per hour is enough to trigger a price pullback. In contrast, during the euphoric phase of the market in the third quarter of 2025, the scale of profit-taking surged to between $200 million and $350 million per hour, yet the price was still able to maintain an upward trend, indicating that the buying support at that time was significantly stronger.

Glassnode pointed out that the current market is in a structurally thin liquidity environment, making it a significant challenge for Bitcoin to sustainably reclaim the $70,000 to $80,000 range, and the rebound process may be more tortuous.