Bitcoin is testing the critical $70,000 psychological barrier as sell-side liquidity hits a two-month high, with over $1.57 billion in "ask" orders stacked just above the current price. While institutional "buy walls" remain firm between $64,000 and $67,000, a significant imbalance in the order book suggests that a "bull trap" similar to January's price action could be forming if spot demand doesn't accelerate.