Bitcoin's price is holding steady above $70,000, with Glassnode analysts predicting a "bigger move" upward. The cryptocurrency's recent recovery to $71,000 is attributed to slowing sell-side pressure and "compression of volatility." The Long-Term Holder (LTH) Binary Spending Indicator suggests decreased distribution pressure, giving bulls more room to breathe. Glassnode's on-chain data reveals that despite new capital flowing into Bitcoin slowing down, its realized cap is still positive enough to stimulate price action. The firm concludes that sell-side pressure has significantly declined, reducing headwinds and overhead resistance. 🐂