Bitcoin Finds Support At $74K As 50,000 BTC Remain Inactive

Bitcoin has found support at the $74K level, with over 50,000 BTC concentrated at this price point. These coins have remained inactive since early March, indicating strong investor conviction. This level marks the first major supply cluster below $80K, suggesting that any further decline may be cushioned in the near term. Between $74K and $70K, approximately 175,000 BTC are distributed across various cost basis levels, with the largest concentrations at $71.6K and $69.9K. These clusters often serve as support or resistance zones, and the current STH realized price of $89K suggests that $69K is a key short-term floor. Historically, this level has acted as a soft bottom during market corrections, reinforcing its importance as a potential support level.

The $69K level has consistently acted as a key turning point during previous bull market corrections. Price movements often stabilize near the STH realized price -1σ band, now at $69K, before regaining upward momentum. This pattern emphasizes both the technical and psychological importance of this level. Currently, the market structure reflects similar trends, with prices retracing toward dense cost basis zones held by resilient investors. Long-term holders remain steady, while short-term traders stay close to break-even. This reduces panic-driven selling and may help stabilize market sentiment, unless the $69K level is decisively breached.

Bitcoin’s recent dip to $77K was met with a swift rebound, suggesting the $74K-$70K zone could act as a soft floor. This is consistent with consolidation phases seen in prior cycles. At press time, the daily RSI hovered near the oversold territory, and MACD continued to flash bearish momentum, indicating potential for further downside retests. However, strong historical buyer interest below $80K lends credence to $74K holding. Should $70K fail, a steeper correction may follow. Conversely, a bounce above $74K could mark a local bottom and reignite bullish sentiment.