Bitcoin struggles once more at $71,500 as declining momentum heightens the possibility of a more significant downturn.

Bitcoin has once more been unable to maintain the $71,500 mark, solidifying this level as a long-term barrier as global markets transition into a risk-averse atmosphere influenced by increasing oil prices and elevated bond yields.

The most recent rejection occurred after Bitcoin briefly surpassed $73,000, subsequently losing momentum and dropping back below $71,500.

Bitcoin price chart showing BTC rejection near $73,000 and a drop below the $71,500 support level.

This movement continues a trend that has been observed multiple times in recent sessions: price increases into the same resistance area, stalls, and then reverses. The seventh attempt provided an additional indication. Rather than pushing directly against the ceiling, the rally formed a lower high before reaching it. Buyers exhibited reduced activity earlier in the movement.

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Bitcoin failing 7 times to break $71,500 is much more ominous than boring ‘sideways action’

The market established a lower high during its latest surge, indicating that buyers may be losing their strength.

Feb 10, 2026 · Liam 'Akiba' Wright

Markets typically break through resistance when pressure accumulates beneath it. As attempts weaken, traders begin to reassess the significance of the level.

This change is already apparent. Short sellers are positioning themselves against the ceiling. Long positions are tightening risk near the same figure that consistently rejects price. Momentum diminishes candle by candle.

Bitcoin is currently trading within a clearly defined framework: $71,500 above as resistance, and a series of support levels starting around $68,000.

$71,500 returns as the market’s pressure test

The $71,500 level holds historical significance.

In mid-2025, it represented the upper limit of a multi-month trading range. When Bitcoin eventually broke above this ceiling, the breakout accelerated into a rally that ultimately propelled the asset to approximately $126,000 by October.

Markets often retain memory of these breakout points. When price revisits them later in a cycle, the level becomes a point for traders to reevaluate their positions.

Bitcoin chart showing multiple failed attempts to break above the $71,500 resistance level during summer 2025.

Recent charts illustrate this process unfolding in real time.

Short-term price movements indicate repeated attempts to breach the $71,500 area followed by swift reversals. Medium-term charts reveal the broader trend: multiple attempts at the same ceiling without sustained acceptance above it.

Acceptance is more crucial than a fleeting breakout. Bitcoin often spikes above levels before retreating. Structural changes occur only when price remains above resistance long enough for traders to stop viewing it as a short.

This has yet to occur.

The latest rally failing to reach the ceiling, along with the lower high, adds further evidence that buying pressure may be diminishing.

For the time being, the range remains intact.

Price level	Market role
$73,700–$73,800	Upper resistance band from recent rallies
$71,500	Key resistance repeatedly rejecting price
$68,000	First support shelf beneath the range
$66,900	Secondary liquidity cluster
Low $61,000s	Major historical consolidation zone

The repeated failures reflect earlier observations in my previous analysis regarding how multiple rejections at the same level can gradually alter market psychology.

Each stalled attempt adds pressure to the next.

Bitcoin price chart showing recent repeated rejection near $71,500 with key support levels below and resistance levels marked above.

ETF flows and macro conditions complicate the breakout attempt

The technical landscape is evolving alongside a changing macro environment.

Global markets shifted into a risk-off stance on March 5 as oil prices rose due to escalating tensions in the Middle East. Brent crude has been trading in the mid-$80 range as traders anticipate potential disruptions to Gulf energy routes.

Higher oil prices typically contribute directly to inflation expectations. In this instance, the market response has been atypical: rather than government bonds rallying as a safe haven, U.S. Treasury yields have increased.

The U.S. 10-year yield has been trading around the low-4% range, recently near 4.22%, as investors factor in the possibility that ongoing energy inflation could postpone interest-rate reductions.

This environment tends to exert pressure on risk assets.

Increased yields elevate financing costs and tighten financial conditions across markets. When the macro narrative shifts toward “rates higher for longer,” speculative assets often find it challenging to sustain upward momentum.

Bitcoin has increasingly aligned with broader risk sentiment during such times. When equities decline and yields rise, crypto markets frequently follow a similar trajectory in the short term.

This pattern reemerged during the latest movement, with equities declining and volatility increasing as oil prices rose.

Currency markets are also a factor in this scenario.

A stronger U.S. dollar generally correlates with softer Bitcoin prices on the margin.

Meanwhile, ETF flows have become more varied.

Spot Bitcoin ETFs recently experienced strong inflow days of $458 million on March 2, $225 million on March 3, and $461 million on March 4. These inflows followed several weeks of outflows.

Such surges in demand can bolster rallies, but they do not always lead to sustained buying pressure.

When price approaches a significant resistance zone like $71,500, even robust inflow days may struggle to overcome existing supply.

Support shelves beneath the range form the next roadmap

Bitcoin’s broader structure continues to follow the liquidity grid that has influenced price movement throughout much of the current cycle.

The concept is straightforward. Markets typically navigate between clusters of liquidity where traders historically placed orders, established positions, or triggered liquidations.

One of my earlier frameworks outlined several of those shelves across Bitcoin’s recent trading history.

These levels remain largely unchanged today.

Support zone	Historical significance
$68,000	Immediate support inside the current range
$66,900	Intermediate liquidity cluster
Low $61,000s	Major structural support from past consolidation
$55,700	Deeper historical support shelf
$49,800	Lowest major liquidity pool identified in the grid

If the $68,000 shelf is breached, price could begin to move toward those lower liquidity areas.

Markets often transition quickly between such zones once a level is broken. The earlier decline from six-figure prices exhibited similar behavior, with Bitcoin rapidly falling from one shelf to the next.

Derivatives positioning can amplify that process. Liquidations tend to accelerate declines when leveraged long positions unwind. That acceleration has not yet occurred. Over the past 24 hours, approximately $340 million has been liquidated across the crypto market, according to Coinglass.

For now, Bitcoin is situated between the ceiling and the first support shelf.

The next attempt at $71,500 will indicate whether buyers can reclaim the range or if the market continues to drift toward the liquidity below.

This level has already faced multiple rejections.

The upcoming test will determine if the ceiling finally breaks or if the descent becomes the market’s next trajectory.

This recent rally had the potential to invalidate my $49,000 thesis. So far, it has not.

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