Bitcoin is swinging in the $70,000 range and showing the possibility of a short-term rebound.

At 8 a.m. on the 21st, bitcoin was trading near $70,000. Over the past 24 hours it fluctuated between $68,933 and $70,931. It fell below $68,900 early on, but attempted to recover the $70,000 level as buying interest came in. It has failed to break resistance at $71,000, and the correction phase is continuing.

As bitcoin continues to rise and fall around $70,000, higher oil prices and falling stock markets are adding to investor anxiety. Bitcoin recently tried to break above $76,000 but was pushed below $70,000 by strong selling. Market experts said this correction could signal an expansion of short-term volatility.

Chartist Axel Kibar (악셀 키바르) pointed to a falling wedge pattern forming on bitcoin charts that is similar to one seen in late 2025. At the time, BTC faced downward pressure and underwent a correction. "Bitcoin could test the $73,700 to $76,500 support zone," he said, signaling the possibility of further declines.

A similar trend is being detected in U.S. stocks. Traders are worried that a sharp rise in oil prices and tensions among the United States, Israel and Iran could fuel inflation.

In particular, some analysis suggests President Donald Trump’s recent economic policies could accelerate price increases. Financial markets analysis outlet The Kobeissi Letter reported that "the Trump administration’s tax-cut policy could raise inflationary pressure."

Meanwhile, blockchain data analytics firm Glassnode said in a recent report that "bitcoin’s attempt to break above $75,000 failed in the short term" and that "in the options market, short-term resistance at $75,000 has been cleared." Investors are still responding cautiously, keeping in mind the possibility of further correction in bitcoin.