Just checked the charts and Bitcoin's bounce is already losing steam around $71K. Last week it crashed hard into the low $60s before snapping back, but now it's stalling again. Honestly looks like the classic bear market relief rally that sucks in buyers before the sellers show up.

The real problem is the supply wall. Tons of people are waiting to dump on any bounce, which is keeping a lid on things. You've also got the Fear and Greed Index down to levels we haven't seen since the FTX collapse in 2022, so sentiment is pretty rough right now.

What's making this worse is how thin the order books are. Trading volumes have dropped roughly 30% since late last year, which means even modest selling can cause wild swings. That's the kind of environment where you get sharp moves without any real bottom forming. The key level to watch is $60K - if that breaks, things could get messy fast with minimal liquidity to cushion the fall. For now it feels like we're just bouncing around in a range waiting for something to give.