六出纷飞

Bitcoin seller liquidity has reached a two-month high, echoing the situation in January. Should traders prepare for a sell-off?
The Bitcoin price seems to have regained support at $70,000, although the market remains cautious, and the technical charts show a layout similar to the bull trap of January 2026.
Bitcoin seller liquidity has significantly expanded in the latest range retest. According to crypto trader Ardi, the selling orders for Bitcoin have reached a two-month high. Traders say,
"The asking price for Bitcoin has just reached a two-month high. The seller liquidity stacked above the price is $1.57 billion, while there is $1.125 billion in bids below the price."

Investors holding Bitcoin for the long term sold 245,000 BTC last week when the price fell below $60,000. However, a new round of macroeconomic clues from the U.S. and increasing buyers undervaluing BTC may signal that the market is about to form a bottom.
Bitcoin (BTC) is currently trading above $70,000, with traders attempting to stabilize the price action after a significant sell-off last Friday, which briefly pushed BTC below $60,000, erasing nearly $10,000 in a single trading day.
On-chain data shows that long-term holders (LTHs) have reduced their exposure at the fastest rate since December 2024, but the total supply held by long-term investors continues to rise in 2026. This divergence may indicate that traders are repositioning, and Bitcoin may be discounted.

1. Gold is becoming 'cryptoized'
One important reason for gold's continuous new highs this year is the market's strong expectations for the expansion of stablecoins.
Currently, the demand for stablecoins in the capital market is robust. From the perspective of trading volume, the market widely acknowledges two sets of data from ARK Invest and Deutsche Bank: ARK Invest's report shows that the total trading volume of stablecoins globally is expected to reach $15.6 trillion in 2024; while Deutsche Bank's data indicates that in 2024, the total trading volume of global stablecoins is expected to reach $27.6 trillion, surpassing the combined transaction volume of Visa and Mastercard.

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