Bitcoin Price Stuck Below $76,000 Threshold Due to Strong Sell Wall

The bitcoin price, currently at $75,440, is attempting to breach the $76,000 mark for the third consecutive day, with bullish traders gradually whittling down $450 million worth of sell orders between $75,900 and $76,300, according to CoinGlass data. These orders are primarily placed by traders seeking to short the high end of the range in anticipation of a potential downturn to around $68,000, as well as those looking to protect against a breakout with associated liquidation risks above the threshold. US stock markets reached new heights on Thursday as the conflict in Iran appears to be subsiding following a ceasefire between Israel and Lebanon. The cryptocurrency market had outperformed the equity market since the onset of the conflict but is now taking a secondary role. Derivatives Positioning Token Talk