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Spot ETF ownership sits behind that price structure. US spot Bitcoin exchange-traded products still hold around 1.2 million BTC, down from a peak near 1.38 million but well above the level recorded shortly after their January 2024 launch.
Both readings describe durability. The price held important support and the institutional base survived the drawdown, though neither shows fresh capital arriving at current levels.
The first resistance sits at the 0.382 retracement near $67,300. Clearing it would extend the rebound, though the more meaningful barrier is higher, where the 0.5 level around $70,250 meets the 100-day SMA near $69,650.
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