BTC faces continuous dumping pressure between $61,700 and $70,500.

According to IntoTheBlock data, about 7 million addresses purchased BTC in the range of $61,700 to $70,500. Due to a large number of traders being in a loss position in this price range, there is continuous dumping pressure whenever the BTC price approaches this level. Many investors are seeking to achieve a balance between profits and losses. This is also the reason why BTC is struggling to reach new highs. Only strong momentum can break this trend and achieve new highs.