Bitcoin (BTC) has once again dipped to the $68,000 price level, after attempting to breach the $74,000 price level. BTC has tested the $73,000-$74,000 price level multiple times over the last month, unfortunately, without success. According to CoinGecko data, BTC’s price has fallen by 4.1% in the last 24 hours, 4.7% in the last month, and 22.1% since March 2025. However, the original crypto is still up by 3.1% in the last week and 0.5% in the 14-day charts. Let’s discuss what Bitcoin’s (BTC) rejection at the $73,000 price level means.
What Does Bitcoin’s Dip From $73,000 to $68,000 mean?
The latest market downtrend could be due to the US jobs report. The US reported 92,000 fewer jobs in February, while unemployment rose to 4.4%, higher than the expected 4.3%. Meanwhile, wages are rising at 0.4%. The development may have sparked renewed worry among investors. Risky assets, such as Bitcoin (BTC) and other cryptocurrencies, may continue to face challenges from macroeconomic factors.
Additionally, the escalating tension in the Middle East continues to worry investors. The energy sector is expected to take a hit, as the global oil trade gets disrupted due to the US/Israel-Iran war.
Bitcoin (BTC) currently faces substantial resistance at the $73,000 price level. The asset is currently trading at around its 2021 peak. However, things may change once the larger economy improves and global geopolitical tensions cool off.
Also Read: If the US-Iran War Drags On, Stocks, Crypto, and the Dollar Could Sink
CoinCodex analysts are quite bullish on Bitcoin (BTC) for the next few days. The platform anticipates the asset to climb to $79,358 on March 17, 2026. Hitting $79,358 from current price levels will entail a rally of about 16.69%.
However, the platform does not expect Bitcoin (BTC) to be able to hold the $79,000 price level, predicting a steady correction to the $70,000 mark by early May.
