Crypto traders lean bearish as BTC trades near $68-71k
Traders are split on whether bitcoin and ether are near a bottom after breaking trend, with large shorts and whale positioning in focus.
Confirmed
- Bitcoin is trading near $68-71k after breaking trend
- Traders are split on whether bitcoin and ether are near a bottom
Not yet known
- Whether bitcoin and ether have reached a bottom
- Whether ETH/BTC breaks below its range lows
- Unconfirmed: a $6B Binance hack; another post says Binance was not hacked
What we know
A prominent trader says he is bearish on BTC, ETH and large-cap stocks, expecting a drop below $82k/$2,400 and a 'last drive down'. Meanwhile, a large trader shorted 750 BTC (about $50M) at $68.6k and would be liquidated at $71k, which one analyst reads as bottom-shorting behaviour. Zcash leverage has concentrated in one whale long with a liquidation near $800. Another trader scales into a small BTC long, and a chartist notes ETH/BTC at range lows. An unverified claim of a $6B Binance hack is contradicted by another post saying Binance was not hacked.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.0m traded · updated 23:49 UTC
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.
“believe btc & eth have broken mid timeframe trend and will continue to accelerate to downside under 82k/2400”
View post →“This guy shorted 750 BTC ($50M Notional) at 68.6k”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.