Bitcoin ends five-month slide and tests $70k–$72k resistance zone

Bitcoin ends a five-month slide. March closed +2%, per CoinGlass. The next test sits at $70k–$72k, where roughly 650k BTC wait to break even.

Price opened April near $68,250. Momentum now hinges on flushing that supply block.

About 650,000 coins cluster in the $70k–$72k band. That’s the largest near-term overhang by cost basis. The chart in the piece attributes this to Glassnode data and shows the distribution clearly. Bitcoin must absorb those sellers for a sustained leg up.

The streak is notable. Five straight red monthly candles hadn’t appeared since 2018, and CoinGlass confirms March broke it. CoinGlass daily and monthly dashboards

Traders flag the momentum shift. “A massive dose of hopium,” wrote Ash Crypto after the green monthly close. Ash Crypto on X Satoshi Flipper highlights the last time BTC logged six red months, gains followed for five months. Satoshi Flipper on X

Seasonality is mixed. Since 2013, April finished green in 8 of 13 years, with average returns near 12%. But in 9 of those 13 instances, April moved opposite to March. Recent pattern: April fell after a green March in three of the four years from 2021 to 2024. CoinGlass monthly returns