Bitcoin's Rebound Efforts Face Resistance at Key Pivot Zone

Bitcoin's recent rebound has sparked hopes for a potential recovery in the cryptocurrency market. After plummeting by 52% from its record highs, Bitcoin is attempting to stabilize and regain some of its lost ground.

The price surge of over 11.2% off the February low close has brought BTC/USD back toward pivotal resistance near $70,000. However, a sustained move above this barrier could threaten a near-term recovery attempt within the broader downtrend.