Bitcoin price levels as BTC slips below $70K

Bitcoin (BTC) is sliding below $70,000, with analysts saying BTC is in the “later stages” of a bear market. On-chain data points to extreme fear: NUPL (net unrealized profit/loss) is under 0.25 (the hope/fear zone), and roughly 40% of circulating supply is held at a loss. Traders are watching specific Bitcoin price levels. Glassnode highlights a developing support floor near the 1w–1m cohort cost basis around $70,200, but warns it’s vulnerable and a breakdown risk can’t be dismissed. If that fails, the next major support zone is $65,000–$60,000, with $60,000 cited by CryptoQuant as a possible bottom area but needing more decisive confirmation. Further down, a key reference comes near the realized price around $54,000—where the 2022 bear-market bottom formed after price approached realized levels. On the upside, resistance is forming around $72,000 (range cap) and a heavier overhead zone near $82,200 (1m–3m cohort basis), with additional sell pressure risk if price returns toward $84,000+. Additional context: CryptoQuant notes “demand exhaustion,” supported by entity-adjusted realized profits collapsing from about $3B/day in July 2025 to below $0.1B/day (over a 96% drop). A close below the 20-day EMA around $70,303 could accelerate downside toward $62,500–$60,000. Overall, these Bitcoin price levels suggest a market still dominated by embedded losses and limited fresh demand, making follow-through to the next support tests a key risk for BTC in the near term.