Bitcoin falls below $71,000 amid heavy selling
Bitcoin dropped below $71,000 for the first time since August 20th, down over 19% since October 2nd, with traders eyeing $66.5k support and debating a possible bottom.
What we know
Bitcoin fell below $71,000 for the first time since August 20th, down more than 19% since October 2nd. One trader says the failed bounce from 71.4k leaves 66.5k as next key support. An on-chain analyst notes 30-day apparent demand at minus 284,000 BTC, a depth that preceded a bottom near $74,500 in March 2025 before a new all-time high. Another trader argues Binance futures pushed price into liquidation zones while spot buyers absorbed it, with volume now very low.
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