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    Home»Crypto News»Bitcoin»rewrite this title in other words: Bitcoin Traders Target $68K As Key Support Zone: Here’s Why
    Cointelegraph
    Bitcoin

    rewrite this title in other words: Bitcoin Traders Target $68K As Key Support Zone: Here’s Why

    May 20, 20263 Mins Read
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    rewrite this content and keep HTML tags as is. This is content from rss feed and I don’t need their *Daily Debrief Newsletter*, their tags from bottom like this *Share this articleCategoriesTags*, Editorial Process section, phrases like *Featured image from Peakpx, chart from Tradingview.com*, SPECIAL OFFERS and similar sections – just remove such sections and save only article itself:

    Bitcoin (BTC) traders have shifted their focus lower after futures and order book data point to strong buyer interest in the $68,000-$70,000 zone.

    Sell pressure has increased in the derivatives markets and the daily bid-ask ratio fell to -0.03, showing sellers are currently more aggressive than buyers as traders position around liquidation levels.

    Bitcoin buyers cluster near $68,000

    The visible range volume profile (VRVP) indicator shows the $68,000-$70,000 region as the most densely traded zone on the chart since November 2025. High trading activity in that price range suggests most positions were opened near those levels over the past few months.

    The order book data also shows a bid-ask ratio of -0.03, with the metric remaining in negative territory for most of the past month as sell-side activity continued to outweigh aggressive buying pressure. 

    Customgpt

    BTC/USDT price, bid-ask ratio and VPVR profile. Source: Hyblock

    Liquidation data adds another pressure point. The heatmap shows more than $3.4 billion in cumulative long positions exposed near $74,700. The figure rises toward $11 billion if Bitcoin falls to $70,000 across the 90-day liquidation range.

    Taken together, the positioning data suggests traders are prioritizing deeper liquidity pools rather than chasing higher prices above $80,000.

    Bitcoin exchange liquidation map. Source: CoinGlass

    Related: Bitcoin price stays under $77K as US bond yields near 20-year highs

    BTC retail longs are crowded

    Crypto analytics platform Hyblock noted Bitcoin retail traders are again leaning heavily bullish as its “True Retail Accounts” long percentage metric climbed above 60%. The indicator tracks the share of retail futures accounts holding long positions.

    BTC/USDT, one-day chart. Source: Hyblock/X

    Previous spikes into the platform’s “extreme long” zone aligned with short-term local tops during rallies toward the $78,000-$82,000 range in early May. The price momentum later cooled after retail positioning became too crowded.

    Hyblock explained that the strongest recovery points appeared when retail traders turned aggressively bearish. Several periods when fewer than 35% of retail accounts held long positions emerged near Bitcoin’s lows in March and April, before BTC rebounded from the mid-$60,000 range.

    Hyblock combines the retail positioning metric with a 14-period relative strength index (RSI) reading to identify sentiment extremes for BTC.

    The latest reading shows the TRA Long (%) near 60.7%, while the RSI stayed elevated at 74.9, suggesting retail traders are still positioned for prices near $76,000. This could lead to deeper correction if BTC follows its previous market behavior. 

    Related: Bitcoin miner Canaan posts $88.7M net loss in Q1 amid BTC decline

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