Bitcoin has dipped below $70,000, entering a six-week range after previously reaching highs above $76,000. Despite increased selling pressure and reduced demand from US investors, historical data suggests a potential for a rebound.
Bitcoin (BTC) fell below $69,000 on Thursday, marking a retreat from recent highs. This decline is accompanied by heightened selling in Bitcoin futures markets and a decrease in demand from US-based investors. A recurring chart setup indicates that BTC could regain its bullish trajectory if certain conditions are met, despite the current pullback and a negative Coinbase premium gap.