If you’ve been following my recent updates, Bitcoin dipping to the $70k zone or even lower today shouldn’t come as a shock. Yesterday, market sentiment started shifting bullish around $76k, with many assuming the bottom was already in. However, as highlighted earlier, that move was simply a lower high.
I had pointed out that a drop toward the $72k–$70k range was likely in the coming days—and after sustained selling pressure, that scenario has now played out.
At this stage, BTC is retesting two major technical levels: the 2021 all-time high and the Weekly EMA 200, which lies just below. These are critical support zones. If price fails to react here and the weekly candle closes beneath them, Bitcoin could re-enter its previous range, where the lower boundary sits near $55k.