Bitcoin approaches $70.000 while selling pressure is historically low

Bitcoin trades around $68.800 on 19 August 2026, up 6.4% in 24 hours. Two notable signals are drawing attention: liquidation data shows a concentration of short positions just above $70.000, while an on-chain indicator suggests that selling pressure from Bitcoin holders has reached its lowest level ever.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin rises 6.4% to $68.800 and briefly traded above $70.000 on Binance Futures.
• Liquidation data shows large concentrations of short positions around $70.000 and long positions around $57.000.
• The Supply Seller Exhaustion Constant is at the lowest level ever measured, indicating minimal willingness to sell among holders.

Short positions above $70.000 in view

According to liquidation data from Alphractal, short positions have been built up for several months in the area just above $70.000. On Binance Futures, Bitcoin has already briefly traded above that level, putting some of those positions under pressure.

Filtering the liquidation map for the largest liquidity pools reveals a clear picture: the largest concentration on the long side is around $57.000. That is the level at which many long positions would be liquidated in the event of a decline. On the short side, the heaviest cluster lies just above $70.000.

The ratio between long and short positions varies by timeframe. Over six months, 58% of liquidated positions are long and 42% are short. Over three months, that is 84% long versus 16% short, indicating that the market has been predominantly positioned long over the past period. Recently, Bitcoin already surged to $69.000 in a significant short squeeze, which fits this pattern.

Selling pressure at lowest point ever

In addition to the liquidation data, there is a notable on-chain signal. The Supply Seller Exhaustion Constant, an indicator that measures the extent to which Bitcoin holders are willing to sell, is at the lowest level ever recorded. That is lower than during previous bottom phases in 2018, 2020 and 2022.

A low value for this indicator means that holders are holding on to their Bitcoin and barely selling, even amid the current price movement. Historically, similar lows have preceded periods of recovery.

Whether the two signals together herald a price increase towards or above $70.000 is uncertain. Retail demand for Bitcoin recently reached its highest point in two years, further supporting the picture of growing interest. What remains decisive is whether the price actually breaks through the $70.000 zone and liquidates the short positions concentrated there.