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Bitcoin sell pressure grows as price nears $73k support; reclaiming $79k is key for recovery.

Market News
29 May 2026
AMBCrypto
View Source
Bearish
pluang ai news

Bitcoin's recent price drop from $76.6k to $72.9k increased the number of coins held at a loss by about 580,000 BTC, signaling heavy buying near highs before momentum faded. This has created psychological pressure on short- and medium-term holders, with $73k as a critical support level and $69k as a secondary line if $73k fails. Resistance is forming near $79k and $84k, where recent buyers may sell to break even, making $79k a key level for easing selling pressure. Spot market data shows persistent selling outweighing buying, indicating sellers control liquidity and Bitcoin faces fragile recovery attempts unless demand strengthens to absorb supply.

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