Profit-taking by short-term Bitcoin traders accelerated the BTC drop below 
$70,000, but spot and futures traders may kickstart a quick recovery.

Bitcoin price falls under $70K again: Three key reasons

Data of the Bitcoin URPD shows a supply chasm exists between $72,000 and 
$81,000, potentially making resistance in the region relatively light. Bitcoin 
URPD Signals Air Gap Until $81,000 In a new post on X, analyst Ali Martinez 
has talked about how Bitcoin support and resistance levels are looking from 
the perspective of the UTXO Realized Price Distribution (URPD). This indicator 
tells us about the amount of supply that was last transacted or purchased at 
the various price levels that BTC has visited in its history. Related Reading: 
Bitcoin Spot ETFs See 14-Day Netflows Surge: Demand Returning? Below is the 
chart shared by Martinez that shows the URPD for Bitcoin as it currently 
stands. From the graph, it&#8217;s visible that the levels between $60,000 and 
$70,000 hold the cost basis of a notable amount of the supply. The $67,000 
mark, in particular, has a huge value on the URPD. Earlier, the bearish price 
action had meant that Bitcoin slipped all the way to the $60,000 level. What 
had followed the decline was a consolidation period in the region below 
$70,000. As the price moved sideways here and trading occurred, supply saw 
repricing into levels falling inside the range, which is potentially why the 
region is now looking so dense on the URPD. This week, Bitcoin has finally 
seen a breakout above $70,000, meaning that it&#8217;s now past the dense zone. As 
is apparent from the chart, the nearby levels in the up direction only hold a 
relatively small share of the supply. Generally, when the market mood is 
bearish, investors in loss can react to surges to their acquisition level by 
exiting the market. They may do so fearing that the price rally is only 
temporary and that they could fall underwater again. Due to this, large levels 
of the URPD that are situated above the spot price can act as potential 
centers of resistance in the future. Since the $72,000 to $81,000 price range 
is relatively thin with supply right now, it may not provide too much 
resistance to Bitcoin. As the analyst explains, &#8220;if momentum builds, there is 
open air in that range.&#8221; For momentum to build, the support levels below might 
have to hold first. Just like how large supply zones above can provide 
resistance, those below can act as support cushions instead. This happens as 
investors accumulate more to defend their acquisition level. Related Reading: 
Bitcoin Surge To $74,000 Fueled By US Institutions, Coinbase Premium Signals 
As the Bitcoin market sentiment has been quite bearish recently, it remains to 
be seen whether dips into the supply cluster at $70,000 and below will be met 
with buying. BTC Price At the time of writing, Bitcoin is trading around 
$70,500, up 4% over the past week. Featured image from Dall-E, chart from 
TradingView.com

Bitcoin Faces On-Chain Air Gap To $81,000: Will Momentum Build?

Ethereum co-founder Vitalik Buterin backs a controversial shift from Casper 
FFG to Minimmit, betting that making censorship harder matters more than 
preserving textbook fault‑tolerance as ETH trades near $2,000. Vitalik Buterin 
has put his weight behind one of the most…

Ethereum eyes faster, tougher finality with Minimmit

In a Cointelegraph interview, Arthur Hayes explains why global markets may not 
be pricing in a longer war in the Middle East, and what that may mean for 
energy prices, liquidity and Bitcoin.

Markets are underpricing risk of longer Middle East war, Arthur Hayes says

The new onchain trading engine from the xStocks platform enables trading of 
more than 70 tokenized equities across Ethereum and Solana.

Cryptocurrency price in LKR