Bitcoin briefly dipped to $65,300 overnight before rebounding to around $67,000 before the US stock market opened. While there has been a short-term rebound, the price remains under pressure, and the market continues to focus on the support level in the mid-$60,000 range.
Third retest of the similar range
From a technical perspective, this marks the third time Bitcoin has fallen back to the mid-$60,000 level since its low on February 6th. The previous two pullbacks occurred on February 24th and March 29th.
The previous two repairs were completed quickly.
After the previous two pullbacks, Bitcoin quickly recovered to $70,000, and further rose to $83,000 in mid-May. Now, after testing a similar price level again, the market is still watching to see if the rebound can continue.
CoinDesk, citing market data, noted that while prices have recovered from overnight lows, they remain under pressure, indicating that this rebound is not yet sufficient to confirm a strengthening trend.
Limited volatility in US stocks before market open
In the macro market, US stock index futures showed little change after hitting a new high in the previous trading day. Meanwhile, oil prices and US Treasury yields rose slightly, and cross-market sentiment has not yet shown a significant shift.
