TLDR
- Bitcoin has failed to break the $71,500 resistance level seven times, printing a lower high on the latest attempt.
- Net ETF outflows reached $2.659 billion over 30 days, showing weakening sustained demand from institutions.
- The 10-year U.S. Treasury yield is around 4.22%, tightening liquidity conditions for speculative assets like Bitcoin.
- Bitcoin is trading between $68,000 support and $71,500 resistance, with market sentiment shifting after repeated failures.
Bitcoin has failed for the seventh time to break above the $71,500 resistance level. Each failed attempt has created stronger resistance and reduced buyer conviction. On the most recent try, the market printed a lower high, indicating weakening momentum.
This pattern of repeated rejection is changing the tone from potential breakout to buyer exhaustion. According to Coincentral Liam ‘Akiba’ Wright, “Attempt seven, smaller, earlier, less committed… That is how breakouts fade, quietly, candle by candle.”
Market participants previously expected $71,500 to eventually give way under pressure. Now, attention is shifting to how long the market can sustain failed attempts before losing conviction entirely.
Technical Weakness Is Accompanied by Negative ETF Flow Data
ETF demand had been viewed as a major support mechanism during dips. However, data now tells a different story. While there was a net inflow of $220 million in a single day, the 30-day total flow across U.S. spot Bitcoin ETFs shows a net outflow of approximately $2.659 billion.
This net negative flow reduces confidence that institutional investors are maintaining strong buying interest. The inconsistency in ETF flows creates uncertainty and weakens the “safety net” narrative that previously supported Bitcoin prices after downturns.
Traders are now watching whether future inflows can sustain over longer periods or if sporadic bursts of demand will continue to fade quickly.
Macroeconomic Conditions Continue to Weigh on Crypto Markets
In the broader financial landscape, high yields on U.S. Treasury bonds are creating a tighter trading environment. The 10-year Treasury yield remains near 4.22%, which tends to limit risk-taking and increase borrowing costs.
These elevated rates can suppress rallies in speculative assets like Bitcoin by tightening liquidity and making leverage more expensive. With these macro pressures in place, Bitcoin needs stronger buying interest to push through resistance levels.
Options trading also shows caution in the market. Traders are paying premiums for downside protection, and the DVOL index recently experienced a volatility spike. This suggests a shift toward defensive positioning among market participants.
Key Levels Ahead and Scenarios the Market May Face
The $71,500 level remains the resistance to watch. If Bitcoin can break and hold above it, short-term momentum may return. Above that, the next resistance areas lie near $72,000 and $73,700.
Support levels have also become more important. The key shelf at $68,000 needs to hold to keep price action from slipping further. Below that, additional support zones are at $66,900 and then down to the low $61,000 range.
Three scenarios appear possible. In the first, Bitcoin breaks above $71,500 and turns it into support. In the second, Bitcoin continues to trade between $68,000 and $71,500, waiting for a catalyst. In the third, Bitcoin falls below $68,000, fails to bounce, and trends toward $61,000 or lower.
As Wright noted, “Buyers are getting tired. Sellers have started stepping down the staircase to meet price earlier.” The repeated rejection of $71,500 combined with negative ETF flows and macro pressure suggests this ceiling is stronger than previously thought.
