Analysis: Bitcoin's Short-term Rally Faces Resistance, Downward Pressure Eases but Breakthrough of $72,000 Resistance Level Still Awaited

Odaily News According to the Bitfinex Alpha report: Bitcoin's upward momentum in early March lost steam after briefly touching $74,047. A wave of strong buying emerged in early March, but was subsequently absorbed by passive supply near the range highs. Retail investors continue to sell, while whales and long-term holders remain focused on accumulating Bitcoin. Downward pressure has weakened, and the market is in a state of equilibrium. However, without sustained ETF inflows or stronger spot demand, Bitcoin will likely remain in a consolidation phase until the $72,000 resistance level is decisively broken.