Bitcoin has faced yet another rejection at $70,000, facing a 0.4% correction in the last 24 hours, 2.2% dip in the 14-day charts, and 11.2% since April 2025, according to CoinGecko’s BTC data. Bitcoin (BTC) faced a rejection at the $69,000 level earlier this month, on April 1. BTC seems be facing a barrier at the $69,000-$70,000 price level. Previously, BTC had faced resistance at around $72,000-$73,000. The dip in Bitcoin’s (BTC) resistance could be a point of worry for investors. Let’s discuss.
Should You Worry About Bitcoin’s Resistance Dipping To $69,000?
Lower highs is a bearish pattern that may signal further price dips. Bitcoin (BTC) has seen substantial price corrections over the last few months. The asset has been on a downward trajectory after hitting an all-time high of $126,080 in October of last year. The lower highs may cause some worry among users and investors.
Bitcoin (BTC) is likely reacting to the uncertainty of the Middle East conflict. President Trump has also been giving off mixed signals about his intentions. Trump previously said that the US may exit Iran in two or three weeks. However, his latest stance is to push Iran into opening the Strait of Hormuz, which was previously open before the war.
Moreover, the average buying cost of a substantial number of holders sits above Bitcoin’s (BTC) current price, leading to less demand at that level. The development seems to have created a barrier for prices to go higher. Macro uncertainties and geopolitical tensions have further pushed investors away from risky assets, such as cryptocurrencies.
Also Read: Why It’s Critical That Bitcoin Reclaims $75k For A Market Rally
Bitcoin (BTC) may not break out of its current resistance level until the larger economy improves, or the Middle East conflict cools off. Both developments may take longer than what investors hope.