Bitcoin struggled to hold its recent gains on Tuesday, drifting back toward the $61,000 level after managing two consecutive up days in the wake of last week’s sharp market selloff. The retreat came as broader equity markets also came under pressure, reinforcing the narrative that bears remain in control of the short-term price action.
Two Steps Forward, One Step Back
Crypto markets had shown tentative signs of recovery on Sunday and Monday, with Bitcoin climbing from the low $60,000s and briefly touching $62,500. However, Tuesday’s session erased much of those gains as selling pressure returned, dragging BTC back toward the $61,000 range.
The pullback coincided with weakness in U.S. equity markets, where stocks also fell amid renewed macro uncertainty. The correlation between Bitcoin and risk assets has remained elevated in recent weeks, limiting crypto’s ability to decouple from broader market sentiment.
Bears Still in Control
Analysts noted that while the brief two-day recovery was encouraging, it fell short of the kind of decisive momentum needed to signal a trend reversal. Bitcoin has been under sustained pressure since last week’s crash, which saw prices fall sharply from levels above $70,000.
Key support around the $60,000 psychological level remains in focus. A sustained break below that threshold could open the door to further downside, while bulls would need to reclaim the $65,000–$67,000 range to shift the near-term outlook.
Market Snapshot
Ethereum and major altcoins followed Bitcoin lower during Tuesday’s session, with the broader crypto market cap retreating alongside the price action. Trading volumes remained subdued, suggesting a lack of fresh conviction from either buyers or sellers.
Market participants are watching for macro catalysts — including U.S. inflation data and Federal Reserve commentary — that could provide directional clarity in the coming days.
Source: CoinDesk