Bitcoin is consolidating near $70,820 after stalling near $74,000 on March 13. On-chain data suggests the $74,000 level faces little investor activity - meaning it may not hold as meaningful resistance.
Crypto analyst Ali Martinez points to the UTXO Realized Price Distribution metric: price levels with high historical buying volume act as support or resistance. Current data shows almost no significant cost basis between $74,000 and $82,045.
That clears a path for a potential 17% rally - the largest this year - if bullish momentum resumes. Failure to break higher risks a test of key support near $66,898.