Bitcoin (BTC) dropped below $69,000 on Thursday, pulling the price back into its six-week range just days after tapping range highs above $76,000.
The pullback coincides with an increase in selling from Bitcoin futures markets and stalling demand from US-based investors, but the chance for a rebound rally remains. A recurring chart setup indicates that BTC can return to its bullish pathway if the necessary conditions are met.
Bitcoin futures set the trend as spot demand fades
The latest pullback aligns with a visible shift in derivatives’ dominance over spot activity. The Coinbase premium gap turned negative after a period of steady demand, pointing to weak follow-through from US-based investors.
Meanwhile, crypto analyst IT Tech noted a…
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Source cointelegraph.com
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