Bitcoin Struggles to Break Above $70,000 Amid Geopolitical Tensions and Regulatory Delays

Bitcoin remains below $70,000 despite multiple attempts to push higher. Price declines in February have pushed BTC/USD down roughly 28%, as corporate Bitcoin holdings and regulatory uncertainty continue to impact market psychology according to market analysis. Geopolitical tensions and the stalled progress of the U.S. Clarity Act are key factors influencing the bearish bias.

Corporate holdings of Bitcoin are under pressure as companies report losses from falling prices. Firms like MicroStrategy and Metaplanet are among those experiencing significant unrealized losses. Meanwhile, ETF outflows and falling futures open interest confirm weak demand across the board as technical analysis shows.

A bearish Symmetrical Triangle breakout has been confirmed in recent technical analysis. Price has broken below the 50-period simple moving average and the lower support line. This could signal a move toward $65,000 or even $60,000 if bearish momentum persists according to technical indicators.

Why the Move Happened

The current bearish trend is driven by a combination of geopolitical uncertainty and regulatory delays. The U.S. Clarity Act, which aims to provide clearer regulatory frameworks for crypto assets, has seen delays in Congress. This has led to a loss of momentum for bullish traders and a shift in market sentiment according to market reports.

Investors are increasingly favoring traditional safe-haven assets like gold and the U.S. Dollar amid rising geopolitical risk. Bitcoin, once seen as a digital alternative to gold, is now being treated more like a high-risk asset, exacerbating the downward pressure as market analysis indicates.

How Markets Responded

Bitcoin is currently trading in a tight range near $67,000–$68,000 as market participants wait for new catalysts. Volatility has eased following the sharp decline at the start of February, but the price remains stuck in a pivotal $65,100–$72,000 range according to price data.

Technical indicators reinforce the bearish bias. The RSI has fallen to 32, and the bearish pennant pattern suggests further downward pressure. A daily close below $65,650 could trigger a decline to $63,000 or the Fibonacci support level near $57,800 as technical analysis shows.

What Analysts Are Watching

Market analysts are keeping a close eye on Bitcoin's ability to break the $71,800 resistance level. A successful move above this level could see the price testing $74,500 and potentially $79,000. However, this remains unlikely without renewed institutional buying or a significant shift in macroeconomic sentiment according to market outlook.

Upcoming macroeconomic events, such as the U.S. Supreme Court's decision on tariffs, could influence Bitcoin's next move. Investors are also monitoring the behavior of corporate and institutional buyers, as their continued accumulation may provide some support to the price as analysts note.

Bitcoin's overall technical outlook remains bearish across all timeframes. Negative volume balance, divergent RSI, and a lack of support levels in the price chart all point to further downward movement. Traders are advised to maintain a cautious stance until clear signs of a reversal emerge according to technical analysis.