Bitcoin (CRYPTO: BTC) is approaching the $70,000 mark, even as geopolitical tensions tied to U.S. airstrikes on Iran drive the price of oil higher.

Short-Term Holders Show Resilience

Despite a recent dip toward the $63,000–$64,000 range, Bitcoin’s short-term holders (STHs) are not displaying signs of panic selling, CryptoQuant data shows.

Following the Feb. 5–Feb.6 capitulation event, when large volumes of BTC purchased near $89,000 were sent to exchanges at a loss within 24 hours, loss-driven inflows have steadily declined.

Sell pressure from recent buyers appears to be fading, suggesting that initial panic has transitioned into patience or seller exhaustion.

Importantly, there has been…

Read more on Benzinga