Bitcoin Magazine

Bitcoin Faces Selling Strain Above $70K as Wall Street Signals Correction Near End
The S&P 500’s latest rebound has drawn a cautiously bullish response from major Wall Street firms, with Morgan Stanley and JPMorgan Chase both signaling confidence that the recent correction may be nearing its end.
Morgan Stanley strategist Michael Wilson řekl the market’s recovery from its recent lows — about 7% off the trough — was holding at critical technical support levels, suggesting downside momentum may have run its course.
Wilson pointed to stronger-than-expected earnings growth, now tracking at roughly 15% on current reports and projected to climb more than 20% on a forward basis, as proof that equities still rest on a sound fundamental base. His team advises clients to buy market dips, focusing on cyclical sectors and quality growth stocks while reducing exposure to energy, which he said may have peaked following its early-year rally.
JPMorgan also urged investors to treat pullbacks as buying opportunities. Strategist Mislav Matejka said conditions favor another V-shaped recovery over the next three to twelve months.
Though volatility remains likely amid geopolitical uncertainty, Matejka sees investor sentiment and market positioning as overly bearish and expects fresh inflows to stabilize risk assets. JPMorgan projects stronger performance in international markets, emerging economies, small-cap equities, and value sectors as global growth stabilizes.
Bitcoin continues to stall out above $72,000
While equity analysts find renewed optimism, Bitcoin continues to stall near its upper range. Data from Glassnode shows heavy profit-taking each time prices approach $70,000 to $80,000, with more than $20 million in BTC sold every hour during recent rallies.
Bitcoin briefly climbed near $74,000 over the weekend before slipping back below $71,000 as tensions between the U.S. and Iran pushed oil higher and weighed on U.S. futures.
Over the weekend, U.S. and Iranian negotiations in Islamabad collapsed without a deal, leading the Trump administration to escalate tensions by announcing a Strait of Hormuz blockade and other maritime enforcement measures amid rising regional conflict and warnings of broader military and economic fallout.
Investor behavior, not chart resistance, has capped upside momentum as holders use strength to exit positions. Until that supply pressure eases, Bitcoin’s ceiling will remain firm within its current distribution band.
Earlier today, Strategy purchased 13,927 BTC for about $1 billion, lifting its total holdings to 780,897 BTC, with the buy fully funded through proceeds from its STRC at-the-market program.
The company’s continued accumulation contrasts with broader corporate trends, as most firms scaled back Bitcoin exposure while Strategy remains the dominant institutional buyer.
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This post Bitcoin Faces Selling Strain Above $70K as Wall Street Signals Correction Near End first appeared on Bitcoin Magazine and is written by Micah Zimmerman.














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