Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges

A key price level is giving Bitcoin trouble — and on-chain data may explain why. Related Reading: XRP Moves Into ‘Scarce Zone’ As Exchange Supply Dries Up Realized Price Puts A Ceiling On The Rally The $75,000 mark is not just a round number for Bitcoin traders. It sits at the lower band of what analysts call the “traders’ on-chain Realized Price” — a metric that tracks the average price at which active market participants last moved their coins. According to CryptoQuant head of research Julio Moreno, that band has historically acted as a ceiling during bear markets, and it appears to be doing the same thing now. Bitcoin tested the $75,000 level three times on Coinbase in a single 24-hour stretch and was turned back each time. The rally itself has been real. Bitcoin climbed roughly 12% in March, touching a six-week high of around $76,000 on March 17. But momentum has stalled right where analysts warned it might. Large Deposits Flood Into Exchanges What makes the stall