Bitcoin is stalling near the $75,000 mark as on-chain data reveals a surge in coin transfers to exchanges, signaling potential selling pressure.
The $75,000 level aligns with the lower band of Bitcoin’s traders’ on-chain Realized Price-a key resistance zone. Analysts note Bitcoin was rejected at this level three times within 24 hours on Coinbase.
CryptoQuant head of research Julio Moreno says large deposits to exchanges-6,100 BTC in one hour on March 16, the highest since February 20-are historically linked to rising sell-side activity. Over 60% came from large holders, the largest share since October 2025.
Even if Bitcoin breaks $75,000, a stronger wall looms near $84,700-the full Realized Price level that blocked rallies in October and January.
Market sentiment is further pressured by Federal Reserve uncertainty. With a 98.9% probability of unchanged rates, focus turns to whether officials signal no rate cuts in 2026 due to inflation and geopolitical risks from the US-Iran conflict.