The price of Bitcoin fell below 70,000 USD on Tuesday, reaching the lowest level of the day at the time of writing – 69,922 USD. This is the first time BTC has traded at this level since November 2024. It highlights the strength of the current correction.
The decline was influenced by unfavorable macroeconomic signals and aggressive leverage reduction in the derivatives markets. In the last 24 hours, cascading liquidations reached approximately 451 million USD. This intensified the selling pressure and accelerated the losses.
Through breaking the key psychological support, the price of Bitcoin is increasingly exposed to further declines. If the negative trend continues, the level of 65,000 USD will become the next important support.
