Data shows Bitcoin is currently retesting a major on-chain resistance level, and a break above which can potentially lead to a surge in its price. Bitcoin Has Major On-Chain Resistance Around $67,000 As pointed out by analyst Ali in a post on X, BTC may be able to see a rise towards the $72,900 level if the asset can break the current on-chain resistance barrier. Related Reading: Bitcoin Long-Term Holders & Price Top: Glassnode Reveals Pattern In on-chain analysis, any level’s potential to act as support or resistance is measured using the amount of Bitcoin that was acquired/bought by the investors around said level. The analyst has shared the chart for the “UTXO Realized Price Distribution” (URPD) indicator from Glassnode, that reveals how the various levels around the current spot value of BTC are looking like right now based on the density of supply that was last bought at them. Looks like there is significant resistance coming up ahead at the $72,900 mark | Source: @ali_charts on X The URPD here is “ATH partitioned,” which means that the p ..
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