Bitcoin latest rally stalled near $75,000, with Bitcoin price slipping back as the initial burst of buying lost strength.
The price of Bitcoin briefly climbed to about $76,044 on April 14 before slipping back into the $73,000-$74,000 range today, leaving it below the $75,000 area that analysts had been watching as a key near-term level.
The move appeared to be helped by a derivatives squeeze. CoinGlass data shows roughly $133 million in liquidated positions over 24 hours. Meanwhile, open interest remained above $56 billion.
Spot Bitcoin ETF flows saw over $291 million in net outflows on April 13. However, that reversed a day later, with $411 million in net inflows on April 14, according to SoSoValue data. BlackRock’s IBIT led with $214 million, followed by ARKB with $113 million.
Bitcoin Price Deals With Bullish Sentiment
Analysts at blockchain analytics firm Glassnode noted in a research blog post that from a profitability perspective, the market is “showing signs of easing stress.” They added:
“Overall, the indicators collectively suggest a market characterized by robust bullish sentiment, heightened investor engagement, and increased risk appetite, albeit with signs of caution and a shift towards increased market stability.”
Even so, the failure to hold above $75,000 keeps the broader range intact as traders continue to treat that level as a key trigger zone.
Read more: Top 5 Crazy Bitcoin Price Predictions: Will BTC Hit $1M?
