Bitcoin keeps bouncing off $73,000. Since the Iran conflict began on February 28, that price point has rejected rallies three times in a row.
The Fear and Greed Index finally climbed out of single digits for the first time in over a month - but the ceiling remains stubbornly in place.
Analysts aren't focused on $73,000. They're saying $75,000 minimum is needed before anything bullish actually starts.
Friday's pullback to $71,843 signals the market is tired and nervous, not confident. Getting to $75K during weekend Iran talks - a key catalyst that could spike geopolitical risk overnight - requires faith that most traders don't have right now.
The broader crypto market isn't waiting around. Algorand dropped 11.4%, Aptos fell 6.1%, and Polkadot lost 6.1%.
These aren't micro-cap coins - institutional investors own them. When they're sliding while Bitcoin trades sideways, money is rotating to safety, not into risk. That kind of rotation typically signals a market that's de-risking, not building momentum.
A break above $75,000 signals conviction has returned. Until then, Bitcoin is just bouncing - and bouncing markets can make small fortunes disappear fast.
