Bitcoin wandered below the $70,000 line on Tuesday, slipping to an intraday low of $69,922 as I type this with the calm efficiency of a man who has just realized his umbrella has vanished. It’s the first time BTC has poked its head around this price since November 2024, which is less a triumph and more a reminder that finance sometimes behaves like a very excitable puppy-full of enthusiasm, then suddenly very far away from the sofa.
The decline, it seems, was fed by a rather unattractive cocktail of macroeconomic gloom and a headlong rush to deleverage across derivatives markets. In the last 24 hours, cascading liquidations reached about $451 million, a sum that could make even a cautious spreadsheet collapse into a helpless giggle.
With that all-important psychological support breached, Bitcoin looks increasingly exposed to further downside, and the next milestone to watch-if the bears keep swaggering in-is around $65,000.
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2026-02-05 15:26