REPORT: BTC, ETH Recent Sell-Off Pressure in Decreasing Trend, $65,000 to $71,000 Range is the Line of Defence the Bulls Must Hold

The announcement of the US tariff hikes has significantly impacted major financial markets, with several markets posting their worst trading records since March 2020, Glassnode said in its latest report. Inflows into mainstream digital assets have come to a standstill, leading to a significant contraction in liquidity and creating strong headwinds. However, it is interesting to note the diminishing size of the sell-off on each price dip in bitcoin and ethereum, which may signal that short-term selling pressure is nearing exhaustion. The current round of digital asset crashes has shown a generalised pattern of decline, with the total market capitalisation of torrents having shrunk from $1 trillion in December 2024 to $583 billion today. Resonance analysis of on-chain data and technical models suggests that $93,000 is the key psychological barrier - a price level that Bitcoin must recover in order to rebuild upside momentum. On the downside, the $65,000-$71,000 range remains an important line of defence for bulls.