Bitcoin Stuck at $68K as Breakeven Sellers Clog Market

Bitcoin's price has been stuck around $68,000 for weeks, and analysts point to a cluster of coins bought near breakeven as the reason. According to Bitfinex analysts, 3.55 million coins were purchased when prices hovered around $68,000, and many holders are only now approaching breakeven.

This creates a supply wall, where buyers pay similar prices and vow to sell at the same level without incurring losses. The zone has become a psychological anchor, with sellers waiting to exit as the market rises back toward that price.

The steady appetite of spot bitcoin ETFs has not been enough to swallow the supply parked near $68,000, leaving the tug of war unresolved. Fund flows and derivatives positioning explain the advance far better than any link to tech stocks like Nvidia or Alphabet.

A decisive close above $68,000, backed by genuine spot demand, could flip the long-standing resistance into a floor. If bitcoin manages that, the investors still waiting to break even may stop selling, removing the biggest barrier to the next leg up.