Bitcoin News: Supply Imbalance Could Push BTC Price to $70K
Portfolio Pulse from
Bitcoin is experiencing technical and macroeconomic pressures that could push its price towards $70,000. A significant supply imbalance between $70,600 and $74,400 exists, and potential market maker actions might trigger a price drop. Macro factors like potential trade tensions and uncertain Federal Reserve interest rate policies add complexity to BTC's price trajectory.
April 11, 2025 | 4:00 pm
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Technical analysis suggests Bitcoin might test $70,600-$74,400 range due to supply imbalance, with potential for further price decline if support levels are breached.
Multiple technical indicators suggest downside risk: trend line breakout, supply imbalance, potential market maker actions to fill price gaps, and macro uncertainties.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100