BITCOIN ($BTC ) — The $70K test is becoming increasingly important

Market situation

Bitcoin is trading around $73,700 after losing the $75,000 psychological support.

Three factors are weighing on the market:

* US spot Bitcoin ETFs recorded approximately $201 million in outflows on November 9.
* October US inflation came in hotter than expected.
* Expectations of further Federal Reserve rate increases are putting pressure on risk assets.

Technically, the structure remains fragile.

Important levels:

* Resistance: $75,000–$77,000.
* First support: $73,000.
* Major support: $70,000.
* Deeper downside scenario: $67,000–$65,000.

A recovery above $75K would be an initial improvement, but sustained ETF inflows are needed to strengthen the bullish case.

Bitcoin is facing a critical moment.

The loss of $75K, persistent ETF outflows and hotter inflation are creating a difficult environment for buyers.

But corrections are also where long-term investors reassess their positions.

I’m watching $70K closely. A support reaction could create an interesting opportunity, while a breakdown would change the picture.

The important thing is not predicting the bottom. It’s managing risk before the market makes its decision.

Poll:

If BTC reaches $70K, what would be your strategy?