Bitcoin slides below $70k toward the 62-67k zone
Bitcoin has fallen more than 25% from its September peak and is grinding toward old 62-67k support after a $1.5B liquidation day. Analysts blame an AI/semiconductor selloff and fear of further liquidations.
Confirmed
- Bitcoin is down more than 25% from its Sept 21 peak of $87,381
- Bitcoin's July low was $57,742, and it has retraced over 70% of the gain from that low
- A $1.5B liquidation day occurred, with no bounce afterward according to an analyst
- A Fundstrat strategist says the AI, semiconductor and NVDA selloff is among the causes
Not yet known
- Whether Bitcoin will revisit the 62-67k support range or sweep $60k
- Whether a large cluster of August-breakout longs below price will trigger a capitulation flush
- Unconfirmed: whether an Ethereum Foundation-linked wallet sold 2,500 ETH during the drop
What we know
Bitcoin is down more than 25% from its Sept 21 peak of $87,381, retracing over 70% of the gain from the July low of $57,742. Traders are watching a revisit of the 62-67k range, with some expecting a sweep of $60k. An analyst notes there was no bounce after a $1.5B liquidation. On-chain firm Glassnode flags a large cluster of August-breakout longs below price that could fuel a capitulation flush. A strategist at Fundstrat says the AI/semis/NVDA selloff is among the causes, even as bank adoption of crypto grows. An on-chain tracker says an Ethereum Foundation-linked wallet sold another 2,500 ETH during the drop (unconfirmed by the Foundation). A viral post argues BTC no longer trades on supply and demand.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.1m traded · updated 16:55 UTC
Bitcoin peak vs July low (USD)
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Bitcoin is now down more than 25% from its September 21st peak of $87,381.”
View post →“approaching a massive liquidation cluster”
View post →“zero bounce after a $1.5b liquidation yesterday”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.