Bitcoin Rally Hits Resistance as On-Chain Data Signals Rising Sell Pressure

Bitcoin (BTC) reached US$76,000 (AU$110,200) on April 15, its highest level since early February, before pulling back to about US$74,800 (AU$108,460) as selling activity increased.

On-chain data shows rising exchange inflows and profit-taking. CryptoQuant reported hourly inflows of around 11,000 BTC, the highest since December 2025, up from 9,000 BTC in March. 

Average deposits rose to 2.25 BTC per transaction, the highest since July 2024. Large transfers accounted for more than 40% of inflows, up from under 10%, with transactions above 1,000 BTC moving into Binance, indicating whale-driven selling.

Short-term holders transferred 63,000 BTC in profit to exchanges on April 14, the largest daily volume recorded in 2026.

Read more: Saylor’s Strategy Nears 800K Bitcoin as Billion-Dollar Buying Spree Continues

Exchange Inflows Flash Warning

CryptoQuant Head of Research Julio Moreno identified US$76,000 to US$76,800 (AU$110,200 to AU$111,360) as a key resistance range. 

This level reflects the “traders’ realised price,” where many positions return to breakeven and selling pressure typically increases. The same range capped the January 2026 rally before Bitcoin declined from US$100,000 (AU$145,000) to US$60,000 (AU$87,000).

Daily realised profits are currently about US$500 million (AU$725 million), below the US$1 billion (AU$1.45 billion) level historically associated with accelerated selling. 

A sustained move above US$76,000 could push realised profits toward or above that threshold, increasing the likelihood of further distribution.

The recent price move followed a period of undervaluation, reduced geopolitical tension linked to the US–Iran situation, and a weaker US dollar.

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