Bitcoin is consolidating below the crucial $70,000 level after a volatile week of price fluctuations.Short-term holder (STH) coins are trading at a 6.2% net asset value (NAV) premium, indicating optimism among investors.The consolidation and rising demand among short-term holders create a favorable environment for potential price appreciation.Bitcoin's key levels to watch are $65,000 for support and $70,000 for a potential breakout and continuation of the bullish phase.