Bitcoin erased its latest breakout attempt after hitting $74,000 as surprisingly weak labor-market data offered no tailwind to crypto or risk assets.

Bitcoin exchange withdrawals spiked to more than $2 billion of BTC on Wednesday, with analysis eyeing a potential major spot buy.

BTC price upside lost momentum after hitting one-month highs as more traders joined bearish predictions for Bitcoin's next move.

Liquidity analysis suggests bulls are in control after Bitcoin’s move to $74,000, though a support retest could take BTC price action nearly $10,000 lower.

A new Bitcoin death cross would ensure continuation of the bear market unless a "major bullish catalyst" appears, per new BTC price analysis.

BTC price upside returned during Wednesday's Asia trading session as Bitcoin attacked a long-term trend line and psychological levels.