Bitcoin Sales Pressure Intact Above $76,000 Support

The Bitcoin market is experiencing a sales pressure, but one important support level remains intact at around $76,000 to $77,500.

Glassnode has reported that there's been an increase in sales on both spot and futures markets, with a notable $467 million exit from US spot ETFs.

A recent analysis by Santiment shows that large wallets have reduced their share of the market over the past three weeks, while small investors have taken advantage of this opportunity to buy at lower prices, pushing BTC inside the $77,000 zone.

The technical outlook is also cautious, with a risk of weakness below $76,000 and initial resistance levels around $79,500 to $80,400.