Bitcoin (BTC) traded below $70,000 for the first time in two months on Tuesday as sellers stayed in control.
Key points:
Bitcoin drops under $70,000 to new two-month lows.Analysis sees 200-day trend lines coming back into play as bulls fail to rescue BTC price action.Stocks continue to post record highs while crypto stays bearish on US-Iran events.BTC price analysis warns of “bearadise” as support thins
Trending: Report: Teen Brain Dead After Falling from Car During Celebration After San Antonio Spurs’ Win
Data from TradingView showed new BTC price lows of $69,631 on Bitstamp.
After failing to follow stock markets higher, BTC/USD increased its divergence from other risk assets to fall by nearly 2% on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Crypto long positions paid the price, with total 24-hour liquidations on Bitcoin and altcoins nearing $800 million at the time of writing, per data from CoinGlass.
Crypto liquidation history (screenshot). Source: CoinGlass
“The pressure is building,” trader Ardi responded to the latest price moves in a post on X.
“We’ve seen BTC lose multiple
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!