Bitcoin Faces Major Sell Wall, Can BTC Continue Its Rally?
Bitcoin's price is currently below its May highs, where a significant liquidity cluster could trigger a short squeeze. If Bitcoin breaks above this peak, it would confirm a shift in market structure and indicate bullish momentum.
However, large ETF inflows have renewed concerns that the price may be approaching a local top. The $730.87 million daily inflow into Bitcoin ETFs is similar to earlier sessions where totals exceeded $700 million, both of which occurred near local peaks before the price of Bitcoin entered deeper corrections.
CryptoQuant's data shows that short covering rather than new buyer demand supplied most of the rally's momentum. Despite this, underlying demand has weakened, and spot demand returned to contraction after briefly reaching its fastest expansion rate of 2026.
The immediate support for Bitcoin sits near the daily low of $78,459, while $80,000 represents the first recovery level. A rebound would return attention to resistance between $81,500 and $82,100, which matches a liquidation structure identified by Daan Crypto Trades.