Glassnode: Bitcoin Reclaim of $70-80k Range Faces Strong Resistance, Current Liquidity Low

BlockBeats News, February 19th, Glassnode stated in a post that since early February, every time Bitcoin has tried to reclaim $70,000, it has encountered depleted demand, leading to another downturn. Even a net outflow of just over $5 million in realized profits per hour has been enough to trigger a price drop. In contrast, in the third quarter of 2025 when the market was in a state of euphoria, profit-taking reached a scale of $200 million to $350 million per hour, yet the price was able to maintain an upward trend due to significantly stronger buying support at that time.

The current market is in a structurally illiquid environment. Reclaiming the $70,000 to $80,000 range for Bitcoin faces significant challenges, making the rebound process more tortuous.

According to PolyBeats monitoring, the probability on Polymarket of the prediction "Bitcoin rebounds to $75,000 in February" is now only 16%.