Bitcoin price drops 3% as analyst warns bulls lack ‘momentum’ to flip $69K

💡 DMK Insight

Bitcoin’s flirtation with the $69,000 level is more than just a number—it’s a psychological barrier that could dictate market sentiment. Historically, this price point has acted as a significant resistance, and with BTC currently at $67,088, traders need to be cautious. If Bitcoin fails to break through this level, we could see a pullback that tests lower support levels. Watch for trading volume and momentum indicators; a lack of buying pressure could signal a reversal. On the flip side, if BTC manages to close above $69,000 convincingly, it could trigger a new wave of buying, potentially pushing prices toward all-time highs. Keep an eye on the daily and weekly charts for any signs of consolidation or breakdowns. The $65,000 level could serve as a critical support point if the resistance holds. Institutions and retail traders alike will be watching this closely, so volatility is likely in the coming days as we approach this pivotal level.