Bitcoin rebound hype fades as range highs crumble: Here’s why BTC is volatile

Bitcoin price crumbled back toward its 2026 low as a lack of fresh capital inflows, weak investor sentiment, and rising selling in spot markets chipped away at the $66,000 level.

Bitcoin (BTC) has now retraced for three straight days, slipping below $66,000 during the New York session on Wednesday. The decline came after a failed push above $70,000, as weak buying interest allowed sellers to maintain control.

Onchain data suggest that the pullback is possibly driven by spot-led selling on Binance, while the lack of a Coinbase premium during the US market session signals muted participation from US investors.

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