Bitcoin Market Shows Resilience Amid Geopolitical Fears

The recent Iran-US conflict had sparked concerns about the potential impact on the Bitcoin market. However, data from CryptoQuant shows that short-term holders have reduced their selling pressure, indicating a potential stabilization of the market.

Whales, on the other hand, have been accumulating more coins during this period, with exchange inflows reaching highs not seen since 2022. This suggests that big players are absorbing the shakeout and hinting at underlying strength.

The thin sell-side liquidity and strong buy walls also indicate a potential swift move towards $76K. Cumulative long leverages have overshadowed corresponding shorts, and large buy walls ranging from $62K to $68K make it difficult for Bitcoin price to drop below its current level.