Bitcoin Struggles to Establish Support Amidst Persistent Selling Pressure and Declining Momentum

Bitcoin's price is struggling to establish a clear floor near $70,000, with persistent selling pressure and declining momentum. On-chain analysis shows growing stress among short-term holders, with increasing inflows to exchanges and a surge in the largest daily inflow since the start of the year. Long-term holders remain inactive, leading to a capitulation phase where weaker hands exit while stronger holders wait. The market remains fragile, with a possibility of a relief bounce, consolidation, or further decline.