Bitcoin (BTC) is teetering on the edge, with analysts nervously eyeing the $69,000 support level. After two tests of 2021's all-time highs, BTC is still above $69,000, but trading resource Material Indicators warns of a possible resistance/support flip at this level. A clear downward signal on daily timeframes is also causing concern. A move above $71.5k would invalidate these fears. Meanwhile, some traders predict a wider BTC price retracement, possibly returning to $60,000 or lower. However, a positive decision on the US spot Ether (ETH) exchange-traded funds (ETFs) could push Bitcoin back into price discovery, potentially hitting $80,000.