Bitcoin Struggles at $68,000 as Break-Even Holders Weigh on Price

Bitcoin's price has been struggling to surpass $68,000 due to a cluster of selling pressures.

The main culprit is a group of investors who bought 3.55 million BTC between six and twelve months ago, with a cost basis near the $68,000 level.

This break-even point triggers a wave of sell orders as investors aim to recoup their capital without loss or profit.

Despite steady net inflows into spot Bitcoin ETFs, the influx of fresh money is insufficient to immediately trigger a price takeoff due to the residual pressure from large holders.