Glassnode: Weak Liquidity Limits Bitcoin's Ability to Hold Above $70,000

Bitcoin has struggled to sustain moves above $70,000 since early February, with each breakout attempt meeting soft demand and subsequent declines, Glassnode data show. Net realized profit outflow slightly above $5 million per hour has recently been enough to trigger pullbacks, compared to $200–350 million per hour during Q3 2025 market euphoria when prices continued rising. The onchain analytics firm said Bitcoin is trading in a structurally thin liquidity environment, making it difficult to reclaim the $70,000–$80,000 band and suggesting any rebounds are likely to be uneven.