Analysts view BTC’s recovery toward $68,000-$80,000 as a relief rally, not a trend reversal, unless it breaches $79k-$80k.
Bitcoin’s recent rebound may only be a temporary relief rally rather than a bullish revival, with key resistance levels at $68,000 and $80,000. Analysts argue that a sustained move above $79k-$80k is needed to signal a broader trend shift, while anything below suggests a corrective bounce within a bear market.
ETF outflows totaling over $5 billion in the past four weeks and persistent macroeconomic concerns, including elevated U.S. inflation expectations, weigh on momentum. Monday alone saw $91 million in redemptions, reinforcing bearish sentiment. A softer-than-expected inflation print on Wednesday could ease pressure but is unlikely to trigger a full reversal.
Technical analysts note that even a recovery to $68K would only mark a rebound from recent lows, not a definitive breakout. The market remains sensitive to ETF flows and Federal Reserve policy signals, with no clear catalyst for a sustained rally yet.