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Bitcoin (BTC) has failed to sustain its momentum above the $74,000 level and has entered a sharp correction phase, with growing warnings of further short-term downside.
According to cryptocurrency outlet Cointelegraph on March 5 (local time), Bitcoin has given back gains after falling more than 1.5% from its recent local high of $74,000. As selling pressure intensified with the opening of Wall Street, the price broke below the liquidity zone around $71,000 where buy orders had been concentrated. Market analysts noted that the current move stands at a crossroads, determining whether it is a typical pullback following a strong breakout or the complete exhaustion of the uptrend.
Crypto analyst Jelle described the current price action as a moment of truth on X (formerly Twitter). He warned that if Bitcoin fails to secure support at current levels, the prolonged consolidation pattern seen in late 2025 could reemerge. Bears remain confident that the recent rally will prove temporary and expect prices to be pushed lower.
On the other hand, some experts have identified positive signals. Analyst Exitpump maintained a bullish outlook, citing resilient buying sentiment on Binance’s spot order book and noting that order imbalance metrics are not as negative as feared. Castillo Trading also highlighted a noticeable decline in selling pressure on Binance’s spot market since the start of this month, assessing that the easing of price suppression is creating favorable market dynamics.
The market is currently engaged in a tense standoff over whether support in the low $70,000 range will hold. Liquidations in the futures market combined with uncertainty in macroeconomic indicators are amplifying volatility. Accumulation by whale investors and changes in exchange supply levels are being cited as key variables that could determine the next directional move.
As Bitcoin loses momentum following its failed attempt to break past the previous high, the importance of risk management is being increasingly emphasized among investors. With technical indicators sending mixed signals, whether the price rebounds from major moving averages is expected to be critical to reclaiming the $80,000 level. Market participants are closely monitoring real-time supply and demand dynamics while cautiously assessing entry into a new price range.
Disclaimer: This article is for investment reference purposes only and does not assume responsibility for any investment losses incurred based on this information. The content should be interpreted solely for informational purposes.