Bitcoin is blocked from breaking new highs, and analysts reveal the culprit behind the scenes!

Bitcoin has been trapped in the 55K to 65K range recently, and the 70,000 mark is out of reach.

The mystery of the price deadlock: A large number of traders opened positions in the 61.7K to 70.5K range, and now it has fallen to around 56.5K, and are generally locked. This range has become an important resistance zone. Once it approaches, the selling pressure of unwinding increases sharply, and the upward movement is blocked.

Historical mirror warning: September has never been a friendly month for Bitcoin. The data of 7 years shows that it has fallen in 6 years, with an average decline of 4.5%. The start of this year is not optimistic either, sliding from 60K to 55K.

Multiple factors are intertwined: market adjustments after halving, election haze, government position concerns, and Mt. Gox legacy issues, all create a complex picture. Spot contract Junyang👉@点这里 加密乘风

However, the on-chain data shows a glimmer of hope: the number of whales holding more than 100 coins has reached a new high, a grand event not seen in 17 months, suggesting that large funds are investing at low prices, or accumulating momentum for a year-end rebound.

What do you think of the current situation of Bitcoin? With the help of interest rate cuts, can it break out of its cocoon and become a butterfly, setting a new high? #加密市场急跌 #BTC走势分析 #非农就业数据即将公布 #美联储何时降息？ #以太坊基金会