Bitcoin rebound has hit a wall at $71,000 with sentiment at most fearful since 2022

Bitcoin's recent recovery from the low-$60,000s has stalled near the $71,000 resistance level, leading analysts to view the bounce as a classic bear-market relief rally meeting supply from investors exiting at better prices. Sentiment is extremely fearful, with the Crypto Fear and Greed Index hitting levels last seen during the 2022 FTX downturn, suggesting conditions are too low for confident purchasing. Liquidity is also thin, with aggregate spot trading volumes down about 30% since late 2025, meaning modest selling pressure can cause disorderly, outsized price swings. Analysts suggest that if buyers fail to defend the $60,000 level, the market could see a quick slide due to these thin liquidity dynamics, especially if broader macro conditions remain risk-off.

(Source：CoinDesk)