On Tuesday, the price of Bitcoin (BTC) fell below the $70,000 level for the first time in two months as sellers took control of the market. According to TradingView data, the BTC price dropped to $69,631 on the Bitstamp exchange, marking new local lows. This was reported by Cointelegraph.com .
Failing to follow the upward trend in stock markets, Bitcoin suffered a daily loss of nearly 2%, unlike other risky assets. This situation led to a mass liquidation of long positions in the cryptocurrency market. According to CoinGlass data, total liquidations for Bitcoin and altcoins approached $800 million over the last 24 hours.
Well-known trader Ardi X commented on this price movement in a social media post, noting that pressure is mounting. According to him, the loss of the $72,500 level was decisive. "If support levels are broken across different timeframes, the market will move toward the next major liquidity point — $68,700," the expert added.
On Monday, the analytical resource Material Indicators had recorded alarming signals through its proprietary trading tools. Analysts are currently monitoring key levels to determine whether this decline will turn into a consolidation phase or lead to a further price plunge.
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