Bitcoin is currently trading at one of the most pivotal levels of this cycle, caught between long-term on-chain support and a wall of overhead resistance created by millions of underwater short-term holders. Spot price $70,925Weekly change +2. 74%Weekly RSI (14) 33. 59ATH drawdown -43% Using Glassnode’s latest on-chain indicators alongside weekly and daily technical charts, this analysis breaks down exactly where Bitcoin stands today and what needs to happen next