Today's morning has brought another wave of tension: Bitcoin ($BTC ) has fallen below the psychological mark and is currently trading around $68,160. According to Investing.com, in the last 24 hours, positions worth $397 million have been liquidated in the market, with the 'razor' affecting both longs and shorts. The fear and greed index has dropped to an extreme 14 points.
Open interest in Bitcoin futures has decreased from $19 billion to $16 billion, indicating a mass exit of institutional capital. ForkLog notes that pressure is increasing due to the outflow of funds from foreign spot ETFs, which has been ongoing for a record time. Analysts point to the level of $68,000 as the 'last line of defense.' If it does not hold, we may see a rapid decline to $62,000. The market is in a state of total uncertainty due to expectations of tough actions from the Federal Reserve.
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