Bitcoin Faces Resistance at Key Level as Large Holders Prepare to Sell

Bitcoin's surge towards $75,000 is encountering significant supply pressure, even as institutional investment remains steady. The recent price increase has been driven primarily by macroeconomic factors rather than speculative activity, with US-listed spot bitcoin ETFs experiencing consistent inflows. However, as bitcoin approaches a key cost-basis level for short-term holders, on-chain data indicates that supply is emerging more aggressively. The realized price for recent buyers, around $76,800, has historically acted as resistance, as investors who were previously at a loss use rallies to exit at breakeven. CryptoQuant notes that bitcoin exchange inflows have spiked, and the average deposit size has increased, suggesting that larger holders are driving the move and potentially feeding liquidity into the market as prices approach the widely watched breakeven zone.