Bitcoin breaks below $70,000, market sentiment is extremely fearful

Bitcoin broke below the $70,000 mark after three consecutive days of decline. Despite weak spot trading volume, market sentiment remains 'extremely fearful,' but on-chain data shows a moderate adjustment without panic selling, suggesting medium to long-term entry opportunities. According to NS3, the steady inflow into Bitcoin spot ETFs has offset selling pressure, but due to leveraged trading, short-term volatility remains high.