Bitcoin Price Plateaus Below $76,000 Amid Significant Sell Pressure

At $75,440, Bitcoin is attempting to break through the $76,000 threshold for the third consecutive day, with bullish market participants gradually eroding the $450 million worth of sell orders situated between $75,900 and $76,300, according to data from CoinGlass. These orders are primarily placed by traders seeking to short the upper limit of the current range in anticipation of a potential reversal towards $68,000, as well as by those attempting to mitigate the risk of liquidation should the price surge above this level. US stock markets reached record highs on Thursday, coinciding with the apparent de-escalation of the conflict in Iran following a ceasefire between Israel and Lebanon. The cryptocurrency market, which had outperformed equities since the onset of the conflict, is now taking a secondary role. Derivatives positioning Token talk