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

Bitcoin experienced a 3% price correction after failing to sustain its recent rally, pulling back from key resistance levels. Market analysts are warning that bullish traders currently lack the necessary ‘momentum’ to flip the $69,000 psychological barrier into a solid support level. Despite several attempts to break higher, the selling pressure near previous all-time highs has remained significant. Technical indicators suggest that while the long-term trend remains positive, a lack of immediate buying volume could lead to further consolidation or a deeper retest of lower support zones. Traders are now closely watching the $65,000 to $66,000 range to see if the market can find a floor before the next potential breakout attempt.

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