According to Glassnode, Bitcoin is experiencing persistent overhead supply while consolidating below $70,000. Onchain data suggests fragile conviction among investors. The report indicates that Bitcoin is struggling to regain upward momentum. The analysis highlights potential challenges for Bitcoin as it attempts to break through resistance levels. The market's behavior suggests uncertainty and a need for stronger bullish signals to overcome the current supply dynamics, according to the report.

According to Glassnode, Bitcoin is experiencing persistent overhead supply while consolidating below $70,000. Onchain data suggests fragile conviction among investors. The report indicates that Bitcoin is struggling to regain upward momentum. The analysis highlights potential challenges for Bitcoin as it attempts to break through resistance levels. The market's behavior suggests uncertainty and a need for stronger bullish signals to overcome the current supply dynamics, according to the report.