We are facing a market purge. The drop below $67,000 broke the psychological support, activating a "capitulation mode." The concerning part is not only the technical descent to $58,000 (200-week average), but also the correlation with macro weakness in the U.S. and the capital flight in commodities. If Bitcoin does not recover $70,000 soon, Stifel's scenario ($38,000) stops being dystopian and becomes a real possibility for a cyclical reset.
BTC
66,641.2
-1.17%