Bitcoin climbed above $68,000 (≈+1.8%) while on‑chain data show wallets holding 1,000–10,000 BTC added roughly 200,000 BTC in the past month, fully reversing post‑October distribution. The accumulation appears spot‑driven rather than leverage‑led, reducing available liquid supply. Price broke a 1‑hour descending channel, neutralizing short‑term downside. Key technical levels: support $66k–$67k, immediate resistance $69,500–$70,000, structural resistance near $71,200; a decisive weekly close above $70k could target $74k–$76k. Bitcoin’s Sharpe ratio has improved, suggesting a volatility reset and healthier risk dynamics as large holders rebuild exposure.

Facts: BTC rose above $68k (+1.8%); wallets holding 1,000–10,000 BTC added ~200,000 BTC in the past month, fully reversing post‑October distribution; accumulation appears spot‑driven (not leverage), reducing liquid supply; price broke a 1‑hour descending channel; listed support/resistance and weekly close target; Sharpe ratio improved. These concrete on‑chain and technical signals point to bullish bias and are actionable for short‑term traders.