Bitcoin slipped below $70K as futures selling rose and spot demand cooled, but a recurring setup on lower time frames points to a potential rebound.
Bitcoin (BTC) dropped below $69,000 on Thursday, pulling the price back into its six-week range just days after tapping range highs above $76,000.
The pullback coincides with increased selling in Bitcoin futures markets and stalled demand from US-based investors, but the chance of a rebound rally remains. A recurring chart pattern suggests that BTC could resume its bullish trend if the necessary conditions are met.
The latest pullback aligns with a visible shift in derivatives’ dominance over spot activity. The Coinbase premium gap turned negative after a period of steady demand, suggesting weak follow-through among US-based investors.
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