Great discussion so far. In my mind there are several possibilities:
1. As
@Twiggidy and others pointed out, it's most likely something obstructing the opening of the needle.
2. Your needle looks to be in the middle of the artery, but it has not punctured through the artery yet. The act of threading the wired may puncture the arterial wall or a lot of times I noticed if you just hold the needle in the same spot the arterial pressure will push the walls back and puncture the needle.
I noticed phenomenon #2 a lot in younger people with very muscular arteries.
How I became aware of this: I used a lot of kits that has a needle by itself and require separate wire to be threaded. To make my first time wire thread rate near 100%, I advance the needle about 1 cm along the artery under ultrasound. Even when the tip of the needle is dead middle of the artery, once I advance the needle a few mm, I feel a tactile "pop" before I get flashback. In this case the wire is not there to obstruct the backflow and when it flashes back there certainly wasn't any tissue in the blood container, that along with the tactile pop made me realize we may not see the entire picture under ultrasound. Which is why I always advocate advancing the needle tip under the ultrasound.