Analysis: Bitcoin faces resistance around the $72,000 level, with multiple on-chain indicators showing weakening demand

SmartContractAuditor · 2026-03-25T16:36:32+00:00

Bitcoin price continues to be suppressed below 72,000 USD, with weakening market demand primarily manifested in reduced accumulation by major holders, sluggish whale activity, declining on-chain demand, and a significant drop in hashrate. In the short term, upside space is limited, while miners facing increased loss risks may add to selling pressure.

SmartContractAuditor

2026-03-25 16:36:32

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Odaily Planet Daily reports that Bitcoin prices continue to be pressured below $72,000. Four on-chain indicators suggest weakening market demand and limited short-term upside potential:

Glassnode’s Accumulation Trend Score (ATS) is approaching zero, indicating that large holders are reducing or halting BTC accumulation. This trend is similar to early 2025, when Bitcoin prices fell to $74,500, and small to medium-sized holders (less than 1,000 BTC) showed signs of distribution or inactivity.
Santiment data shows Bitcoin whale activity is at “historic lows.” Last week, only 6,417 transactions over $100,000 occurred, and transactions over $1 million dropped to 1,485 — the lowest since October 2024. Analysts say that smart money is cautious due to the CLARITY Act and geopolitical uncertainties.
CryptoQuant’s network activity index has been steadily declining since August 2025, reflecting weakening overall on-chain demand. Bitcoin Vector’s core indicators also show sluggish network liquidity and growth, describing the market as “unstable without support.” Short-term gains depend more on capital flows, short covering, or external catalysts rather than natural growth.
Bitcoin hash rate has dropped sharply in recent weeks to 813 EH/s, down 22% from 1.2 ZH/s on March 5. Rising energy costs and geopolitical conflicts have reduced daily mining revenue per PH/s to below $34, causing most miners to operate at a loss. Token Metrics analysts warn that if difficulty drops more than 5% within a week, miner exits could accelerate, further increasing spot selling pressure. (Cointelegraph)

BTC1.55%

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