Bitcoin (CRYPTO: BTC) is back at $70,000 on weakening bullish momentum, setting up a key test for its next move.

Bitcoin’s Key Levels In Focus

Prominent analyst Trader Mayne on Friday said rising geopolitical tensions and the aftermath of recent Federal Reserve policy decisions are driving volatility across crypto markets.

He noted that macro conditions remain critical.

Higher energy prices can tighten financial conditions, while central bank policy continues to influence liquidity, both key drivers of capital flows into Bitcoin.

From a technical perspective, Bitcoin is at a pivotal point. After a failed breakout attempt, the return to its previous range suggests fading bullish strength.

Benzinga