Bitcoin is struggling to surpass the $70,000 level, but recent data shows that the world's largest digital asset remains stable at its current price level and could soon initiate the next phase. 📈

According to IntoTheBlock's latest analysis, BTC has maintained a stable price around $69,000 due to a strong demand zone, especially between $66,900 and $68,900. This range includes more than two million addresses that have accumulated a total of 1.1 million BTC. 😮

This key demand zone acts as a critical buffer demonstrating investor confidence and investment at these price levels. Overall investor sentiment appears bullish, with renowned crypto trader Peter Brandt predicting that bitcoin's current bull run could peak between $130,000 and $150,000 in late 2025 or early September.

Important developments in the Bitcoin ecosystem are also driving the bullish momentum. US Senator Ted Cruz, a long-time crypto supporter, has started mining operations in Texas. The Republic of Tatarstan, also known as Tatarstan, aims to establish Russia's largest Bitcoin mining company, valued at approximately $100 million.