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Bitcoin remains under constant pressure from the loss of the $70,000 level, entering a correction phase that has gradually reduced the price while defining a consolidation range just above the $63,000 area. Momentum has weakened significantly, with buyers struggling to regain control and volatility pressure as the market looks for direction. This range-bound behavior indicates a transition phase rather than a confirmed trend reversal, as traders weigh greater uncertainty, liquidity conditions, and a broader sense of risk across digital assets.
Amidst this background, Bitcoin mining difficulties have recently rebounded following a brief dip. Mining difficulty is adjusted approximately every two weeks to maintain a consistent block production time. When the difficulty increases, it usually indicates that more computing power – or hashrate – has returned to the network. Temporary downtime may occur when external factors, such as weather disturbances, power outages, or shutdowns, force some miners to go offline.
The recent rebinding, therefore, suggests renewed miners’ participation and continued network stability. High difficulty often reflects confidence among miners in the long-term viability of Bitcoin, as maintaining operations becomes more competitive and more expensive. However, it could also increase cost pressure on inefficient miners, which could impact short-term supply if others are forced to liquidate their holdings to cover costs.
The recent dip in mining difficulty has been driven more by weather than by structural beach. Severe winter storms temporarily disrupted power supply at key mining sites, forcing parts of the network’s hashrate offline. As a result, the previous difficulty adjustment registered a short-term decrease, reflecting the reduced computing power protecting the network at that time.
Difficulty of Bitcoin | Source: CryptoQuant
However, the disruption was short-lived. According to on-chain data, the latest correction reversed the decline and pushed the difficulty back to new highs, ensuring that miners quickly returned to operations. The network’s hashrate has also reached its previous range, indicating that the infrastructure impact was temporary rather than systemic. Block production times, which have been down for a while, quickly became normal as computing power returned.
This rebound has structural consequences. The mining difficulty increases after the shock shows that the capital remains committed to the network despite the weakness of the price below $70,000. It also suggests that the extensive mining ecosystem maintains operational sustainability, even under adverse conditions.
At the same time, high complexity increases production costs, especially for inefficient operators. If the price of Bitcoin remains compressed near the $63,000–$65,000 range, margin pressure may intensify for high-cost miners. Nevertheless, the rapid recovery from the crisis reinforces the idea that the fundamentals of the network remain the same despite temporary fluctuations.
Bitcoin Tests Key Support As Downtrend Pressure Continues
The weekly chart of Bitcoin shows a clear decline in momentum after losing the $70,000 level, and the price is now consolidating near the $63,000 area. The structure shows a sequence of lower highs from the year-end 2025 peak above $120,000, indicating that sellers remain dominant despite temporary stabilization efforts.
Bitcoin test key need | Source: BTCUSDT chart on TradingView
Technically, Bitcoin is trading below the 50-week and 100-week moving averages, both of which have moved from support to strong resistance. This setup usually indicates a transition or correction phase rather than a confirmed bullish continuation. Meanwhile, the 200-week moving average – currently at a record low – remains a long-term indicator of structural support.
Volume patterns also suggest caution. Trading activity has increased during the recent downturn, pointing to distribution rather than a simple drift of thin liquidity. However, recent candles show some volatility suppression, which means the market may be trying to establish a short-term base at current levels.
From a structural perspective, the $60,000–$63,000 region now serves as immediate support. A sustained break below this could expose deeper retracement areas to the mid-$50,000 area. On the other hand, a retracement of the $70,000 threshold would be necessary to restore bullish momentum and shift recovery sentiment.
Featured image from ChatGPT, chart from TradingView.com
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