Analysis: Bitcoin's key resistance level is $76800, which may face short-term investor profit taking BlockBeats news, on April 16th, according to CoinDesk, Bitcoin is currently hovering around $75000, facing supply pressure, but institutional demand remains stable. Market sentiment was boosted by news of the extension of the US Iran ceasefire. The US dollar has fallen to a nearly six week low, and US bond yields have also fallen, which usually supports the prices of cryptocurrency assets; Gold also rose synchronously, indicating that the market is seeking a balance between risk appetite and safe haven demand. On chain data shows that when the price reaches the key cost benchmark level for short-term holders, Bitcoin often experiences supply surge, which is around $76800 and may pose significant resistance. At that time, investors may choose to take profits when recouping their capital. Morgan Stanley's newly established MSBT fund quickly attracted over $100 million in funding with the lowest market rates, sparking a new round of competition from competitors such as Goldman Sachs. At the same time, the US blockade of Iranian ports and Iran's threat to disrupt shipping in the Persian Gulf continue to cast a shadow over the global economic outlook. The energy supply shock has started to push up inflation expectations, or affect the direction of central bank policies, which in turn affects the cryptocurrency market.