Bitcoin stays defensive below $70,000 as shallow demand limits upside, analysts say

Bitcoin continues to trade in a defensive posture, struggling to regain momentum above the critical $70,000 threshold. Market analysts observe that the leading cryptocurrency is currently facing a period of stagnation, primarily driven by shallow demand across both spot and derivative markets. Despite several attempts to break higher, the lack of aggressive buying pressure has left the price vulnerable to minor pullbacks. Experts suggest that the cooling interest in spot Bitcoin ETFs, combined with macroeconomic uncertainty, is keeping institutional investors on the sidelines. Technical indicators point toward a consolidatory phase, with analysts warning that without a significant surge in volume, Bitcoin may continue to test lower support levels before any meaningful breakout occurs.

Source: Bitcoin stays defensive below $70,000 as shallow demand limits upside, analysts say