Bitcoin fell below $71,000 after briefly testing $76,000, but its bullish momentum persists. Spot market demand through US-listed ETFs and strategic buying by companies like MicroStrategy supports the trend. Low leverage among bulls reduces liquidation risks even if prices drop further. Rising inflation concerns could push investors toward Bitcoin from gold. The S&P 500 remains near all-time highs despite economic volatility. U.S. Treasury yields suggest cautious investor behavior, with a 1.44% adjusted return on 2-year notes. CoinGlass estimates that only 1% of open interest would be liquidated if Bitcoin falls to $68,000. A negative funding rate in Bitcoin futures indicates bearish overconfidence. Gold prices dropped to $4,900, signaling potential rotation into Bitcoin. No signs of fading bullish momentum.
