Glassnode: The recent selling pressure on BTC and ETH is decreasing, and the $65,000-$71,000 range is an important support level for bulls

ChainCatcher news, Glassnode stated in its latest report that the announcement of increased tariffs in the United States has significantly impacted major financial markets, with multiple markets recording the worst trading figures since March 2020. The inflow of funds into mainstream digital assets has stalled, leading to a significant contraction in liquidity and creating strong headwinds.

However, it is worth noting that the scale of sell-offs during each price dip for Bitcoin and Ethereum has been decreasing, which may indicate that short-term selling pressure is nearing exhaustion. This round of digital asset declines has shown a broad-based downturn, with the total market capitalization of altcoins shrinking from $1 trillion in December 2024 to the current $583 billion.

The resonance analysis of on-chain data and technical models shows that $93,000 is a key psychological level—Bitcoin must reclaim this price point to rebuild upward momentum. On the downside, the range of $65,000 to $71,000 remains an important defense line that bulls must hold.