Bitcoin pulls back to $76,155

Bitcoin fell back toward $76,000 on Tuesday, April 28, after another run at $79,000 failed to break through. (coindesk.com) (finance.yahoo.com) Yahoo Finance showed bitcoin at $75,871.68 by 2:31 p.m. UTC, down 2.51% on the day, with an intraday range of $75,804.40 to $77,423.17. (finance.yahoo.com) CoinDesk reported bitcoin briefly touched about $79,400 in Asian trading on April 27 before reversing, marking a third failed attempt to clear the $79,000 area in eight sessions. (coindesk.com) The move matters because $80,000 has become the line traders keep watching and bitcoin has not been able to stay above it. CoinDesk said Tuesday’s pullback stalled a rebound from late-March lows below $65,000. (coindesk.com) The rally into late April was not backed by heavy trading. CoinDesk said the advance was driven by spot buying and short covering on sharply lower volumes, a setup that can fade quickly when sellers reappear. (coindesk.com 1) (coindesk.com 2) One closely watched gauge also weakened. CoinDesk said the Coinbase premium index turned negative after a multiday positive streak, a sign that U.S. spot demand had cooled as prices slipped back toward $77,000. (coindesk.com) Macro traders are watching the same tape through a different lens. CoinDesk said bitcoin’s rebound is colliding with a stronger dollar, sticky rate expectations and a broader risk-off mood that has made a fast return above $80,000 harder. (coindesk.com 1) (coindesk.com 2) Even after Tuesday’s drop, bitcoin was still up 14.4% over one month on Yahoo Finance, showing how much of April’s rebound remained intact. (finance.yahoo.com) For now, bitcoin is stuck between a rebound from March’s sub-$65,000 lows and a ceiling just under $80,000 that sellers have defended three times in eight sessions. (coindesk.com 1) (coindesk.com 2)