BTC struggles to reclaim $70K amid selling pressure from holders

Bitcoin is having difficulty reclaiming the $70,000 level despite a recent rebound, facing simultaneous selling from both long-term (LTH) and short-term holders (STH), according to an analysis by CryptoSlate. A key resistance zone is seen between $70,000 and $80,000, where approximately $4.5 billion in call option open interest is concentrated. Data from Glassnode shows that long-term holders realizing losses have accounted for over 65% of recent exchange inflows. At the same time, short-term holders who bought near the June lows are taking profits, which is limiting upward pressure. However, there are also signs of recovering demand. U.S. spot BTC ETFs have recorded net inflows for three consecutive days, and CryptoQuant's Bitcoin Regime Score remains in positive territory. The analysis concluded that for Bitcoin to break through $70,000, sustained buying from spot markets and ETFs will be needed to absorb the sell-offs from current holders.