Bitcoin Price Falls Below $70,000 After Crashing 21% This Week
BeInCrypto
Bitcoin dropped below $70,000 due to macroeconomic pressures and significant derivatives market liquidations.Summary
The price of Bitcoin fell below the $70,000 threshold on Tuesday, hitting an intraday low of $69,922, marking its lowest level since November 2024. This sharp correction, which saw the price crash by 21% over the week, was driven by bearish macroeconomic signals and aggressive deleveraging in derivatives markets. Cascading liquidations totaled approximately $451 million in the last 24 hours, intensifying the selling pressure. With the key psychological support of $70,000 breached, Bitcoin's price is now vulnerable to further declines, with $65,000 identified as the next crucial support level if the bearish trend continues.
(Source：BeInCrypto)