Bitcoin Fails To Flip 68000 Into Support

Bitcoin has not confirmed its rebound. After an attempt to recover above $70,000, the price was rejected below the $68,000 trendline, a technical level monitored by analysts. This movement rekindles questions about the end of the bear market, while some signals indicated stabilization. The rejection now places BTC against a major resistance and reignites the debate over the strength of the current cycle.

Rejection below a key threshold: Bitcoin stumbles on resistance at $68,000

The crypto market has once again faced a tough technical reality. Indeed, bitcoin failed to turn the $68,000 zone into a sustainable support. After an attempt to climb toward $70,000, selling pressure quickly regained control, invalidating the idea of a clear reclaim of recent highs. This price reaction occurs at a time when part of the market was waiting for a clear signal of exiting the bearish phase.

At the heart of this dynamic lies a structural indicator closely watched by analysts: the 200-week exponential moving average. Historically considered a key defense line for bullish cycles, it now acts as a technical ceiling. This polarity shift is a strong signal for traders analyzing bitcoin’s previous cycles.

The reported facts reveal several specific elements :

• Bitcoin reached about $70,040 before falling back below the $68,000 area ;
• The $68,000 zone corresponds to a major trendline, now tested as resistance after having served as support ;
• Analyst Rekt Capital stated that the 200-week exponential moving average now “acts as resistance” ;
• He adds that “as long as bitcoin trades below the 200-week exponential moving average, the cycle history suggests the price remains oriented toward further downward pressure”.

This technical rejection thus places the market structure back into a cautious configuration, where bitcoin’s ability or inability to sustainably reclaim these levels will determine the cycle’s continuation.

Market Outlook

The way this rejection has been interpreted goes beyond a simple price movement. It fuels a growing consensus that it is probably premature to announce the end of the current bear market, as explained by Rekt Capital on the social network X.

This warning echoes the observation that bitcoin has been in its current bear cycle for only about 140 days, an interval still shorter than the minimum duration observed in previous cycles.

The impact of this rejection is also amplified by the depth of the pullback recorded this year. Thus, BTC registered a drop of nearly 53 % from its October 2025 cyclical high, increasing concerns about the possibility of a prolonged capitulation if major support levels break.

The rejection of the $68,000 reminds us that the structure remains fragile. As long as major resistances are not reclaimed, doubt prevails. Certainly, bitcoin rebounds thanks to $258M injected into ETFs, but this one-time support will need to be sustained over time to truly change the cycle’s dynamic.