📉 $BTC nears the 70,000 mark after a red session
Bitcoin is currently trading around 70,941 USDT, down 3.80% over the past 24 hours, with trading volume of approximately 1.17 billion USDT. During the day, the price ranged from 70,688 to 74,092 USDT.
$BTC has broken below the 73,500 support zone and continued sliding toward the psychological 70,000 mark—the day's low was less than $700 away. Pressure is coming from several directions at once: markets are pricing in a 100% chance of a Fed rate hike in December, gold has fallen below $3,900, and U.S. stocks are slightly in the red following the shock announcement that Jensen Huang is stepping down as Nvidia CEO.
📌 Learning corner: Round price levels like 70,000 USDT often attract both dip-buying orders and stop-loss sell orders, so price swings around these levels can be sharp. If the daily candle closes below 70,000, market sentiment could deteriorate quickly; conversely, a long lower wick would signal that buyers are defending the level aggressively.
The October PPI is due at 20:30 tonight—do you think $BTC will hold the 70,000 mark until then?
Bitcoin is currently trading around 70,941 USDT, down 3.80% over the past 24 hours, with trading volume of approximately 1.17 billion USDT. During the day, the price ranged from 70,688 to 74,092 USDT.
$BTC has broken below the 73,500 support zone and continued sliding toward the psychological 70,000 mark—the day's low was less than $700 away. Pressure is coming from several directions at once: markets are pricing in a 100% chance of a Fed rate hike in December, gold has fallen below $3,900, and U.S. stocks are slightly in the red following the shock announcement that Jensen Huang is stepping down as Nvidia CEO.
📌 Learning corner: Round price levels like 70,000 USDT often attract both dip-buying orders and stop-loss sell orders, so price swings around these levels can be sharp. If the daily candle closes below 70,000, market sentiment could deteriorate quickly; conversely, a long lower wick would signal that buyers are defending the level aggressively.
The October PPI is due at 20:30 tonight—do you think $BTC will hold the 70,000 mark until then?
