Bitcoin hit a fresh short-term ceiling near $70,000 and slipped again, marking a modest 0.4% pullback over the past 24 hours and a 2.2% decline on the 14‑day chart — leaving it down 11.2% since April 2025, according to CoinGecko. Price action shows BTC has struggled repeatedly around the $69,000–$70,000 band after an earlier rejection at about $69,000 on April 1. That comes after a previous resistance zone closer to $72,000–$73,000, suggesting the recent ceiling has shifted lower. Technically, the formation of “lower highs” over recent months is a bearish sign that can presage further downside unless buyers regain control. The pullback follows a long slide from Bitcoin’s October all-time high of $126,080. Traders warn that a lot of overhead supply — with many holders’ average buy-in prices sitting above today’s levels — could dampen demand and create selling pressure if prices attempt a sustained move higher. Broader macro and geopolitical risks are also weighing on sentiment. Ongoing tensions in the Middle East have pushed investors away from risk assets, and mixed messaging from political leaders about U.S. intentions in the region has added uncertainty. Those factors, combined with slower economic conditions, may keep upward momentum capped in the near term. Bottom line: unless macro conditions improve or geopolitical tensions ease, Bitcoin may struggle to break out of the current resistance zone — and that could take longer than many market participants hope. Read more AI-generated news on: undefined/news