Bitcoin Price Hits Roadblock Below $76,000 Amidst Strong Sell Pressure

At $75,440, bitcoin is making its third attempt to breach the $76,000 mark, with bullish traders gradually eroding the $450 million worth of sell orders positioned between $75,900 and $76,300, according to CoinGlass data. These orders are primarily placed by traders seeking to short the upper limit of the current range in anticipation of a downturn to around $68,000, as well as those protecting against a potential breakout that could trigger significant liquidation risks above this level. Meanwhile, U.S. equities have reached record highs on Thursday, driven by 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. Further insights into derivatives positioning and market trends are also being closely monitored.