Bitcoin has encountered significant selling pressure, with over $20 million worth of Bitcoin sold per hour as it attempts to hold above the $70,000 mark. According to blockchain analytics firm Glassnode, the $70,000–$80,000 range has functioned as a persistent distribution zone since February, where profit-taking has capped potential gains. Prices briefly surged to nearly $74,000 on Saturday but quickly retreated below $71,000. This decline coincided with a breakdown in peace talks between the U.S. and Iran, which has influenced oil prices and weighed on U.S. stock futures. Glassnode noted that every attempt to breach the $70,000–$80,000 band has faced thin liquidity and profit-taking pressure, suggesting that current market conditions are driven more by behavioral factors than technical resistance. Until this selling pressure eases, Bitcoin's ability to maintain momentum above $70,000 remains in jeopardy.