BTC faces key test near $68K as supply cluster forms major resistance

Bitcoin faces a major resistance zone near $68,000, where a heavy supply cluster has formed, and the area could act as a key test for the asset’s next directional move, The Block reported. In related analysis, U.S.-based crypto exchange Bitfinex said buyers’ average entry price over the past five months has been concentrated near $68,000. Bitfinex said this means many buyers currently sitting on losses would return to break-even in that range, and historically short-term buyers have often opted to exit at break-even under those conditions. As a result, strong selling pressure could be triggered around $68,000, Bitfinex said.