Bitcoin fell nearly 3% on Wednesday, hitting new week-to-date lows near $66,500, as analysts warned that buyer momentum remains too weak to flip the historically significant $69,000 level back into support. Data from TradingView shows the latest decline followed another failed attempt to hold above $70,000, reinforcing a broader view that Bitcoin remains stuck in a fragile consolidation zone. $69,000 seen as stubborn resistanceKeith Alan, co-founder of Material Indicators, said the current trading range carries outsized technical importance due to prolonged consolidation in prior cycles. “Bitcoin continues to show signs of weakness around $69K,” Alan wrote on X, noting that price spent roughly eight months consolidating in this zone in 2024, while the 2021 cycle top also reinforced its structural relevance