Bitcoin Bulls Face Historic Resistance as Rally Enters Critical Phase

Bitcoin's recent rebound has surprised markets with both its magnitude and consistency, breaking the compression pattern that defined the bear market.

The buying volume accompanying this move higher reinforces the credibility of the rally in the eyes of technical analysts.

However, a major resistance zone on higher timeframe charts reveals a historic hurdle for Bitcoin, where long-term holders tend to take profits and create structural selling pressure.

Data from CryptoQuant shows an increase in outflows from long-term wallets precisely within this price range, a classic signal of partial distribution.