Glassnode data shows soft participation, while a negative gamma setup below $68,000 leaves BTC exposed to a faster move toward $60,000. Bitcoin has repeatedly failed to hold above $70,000 and is now sliding toward $68,000, testing the lower end of a trading range that has held since late March. On-chain and trading data show weak underlying demand and ongoing selling by large holders, leaving the market dependent on macro flows and derivatives positioning rather than broad-based accumulation. D…
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