Bitcoin profit-taking causes bitcoin price to drop below $70,000

```htmlJinse Finance reported that on April 7, TradingView data showed BTC price entered a consolidation phase after reaching a new April high of $70,275 on a certain exchange. Bitcoin encountered familiar resistance when breaking through the $70,000 mark and setting a new April high, which analysts attributed to "profit-taking pressure." As the price has lingered below $70,000, on-chain analytics platform Glassnode pointed out that internal market forces are the reason for the price's inability to continue rising. "When the price tests the $70,000 area, hourly realized profits surge above $20 million, indicating the local market is saturated," an article on X stated. "Since February 2026, such a pattern has persisted: each time the price approaches the $70,000 to $80,000 range, it faces a lack of liquidity and profit-taking pressure, which limits the rebound."```