The $70k ceiling holds! Feb 19 → Feb 25 → Mar 03, 02:00 UTC. Each time the 12HR-SMA of Net Realized P&L spiked above $5M/hr, price stalled and reversed at the $69.4k range high. This region continues to cap every recovery attempt. The asymmetry reflects the fragility of the current demand structure. Until this level of profit-taking can be absorbed without triggering rejection, $70k remains a ceiling, not a floor. #crypto
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💰 UPDATE:
The $70k ceiling holds! Feb 19 → Feb 25 → Mar 03, 02:00 UTC. Each time the 12HR-SMA of Net Realized P&L spiked above $5M/hr, price stalled and reversed at the $69.4k range high. This region continues to cap every recovery attempt. The asymmetry reflects the fragility of the current demand structure. Until this level of profit-taking can be absorbed without triggering rejection, $70k remains a ceiling, not a floor. #crypto