Bitcoin is holding above $70,000 despite broader risk-off pressure across global equities, as markets await key U.S. jobs data scheduled for Wednesday.
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $70,353 |
| Ethereum | (CRYPTO: ETH) | $2,111 |
| Solana | (CRYPTO: SOL) | $87.39 |
| XRP | (CRYPTO: XRP) | $1.44 |
| Dogecoin | (CRYPTO: DOGE) | $0.09604 |
| Shiba Inu | (CRYPTO: SHIB) | $0.056144 |
Notable Statistics:
- Coinglass data shows 102,178 traders were liquidated in the past 24 hours for $408.19 million.
- In the past 24 hours, top gainers include Kite, Humanity Protocol and World Liberty Financial.
Notable Developments:
- The Real Reason Behind Bitcoin’s Brutal Sell-Off To $60,000
- Tom Lee Predicts ‘V-Shaped Recovery’ As BitMine Adds 40,613 ETH
- Bitcoin Drops From $90,000 To $70,000 In 2 Weeks, But ‘Much Of The Bad News Already Priced In’
- Retail Is Selling Bitcoin, But Who’s Buying At $70,000?
- Bitcoin To Hit $150,000 In 2026 Since ‘Nothing Blew Up,’ Bernstein Argues
- Trump Family-Affiliated World Liberty Financial Generated $1.4 Billion In 16 Months
Trader Notes: Crypto chart analyst Ali Martinez highlighted that Bitcoin has historically formed major market bottoms near the −1.0 MVRV pricing band, which currently sits around $52,040. This level has previously marked areas of long-term value during drawdowns.
Crypto Tony noted that Bitcoin’s short-term structure remains constructive, with a bias toward long positions. A continued period of consolidation could open the door for a move toward $73,500–$74,000, as liquidity is stacked above current price levels and represents the path of least resistance.
There is a growing view among traders that a local bottom may already be in place.
The longer BTC holds current levels, the stronger the bullish setup becomes. Looking further out, a push toward $84,000 over the coming months is increasingly plausible, which would likely provide room for a broader altcoin rally.
Trader Jelle pointed to historical cycle behaviour, noting that every major Bitcoin bear market has bottomed below the 0.618 Fibonacci retracement of the prior cycle high, though each cycle’s drawdown has been progressively shallower.
The first bear market fell roughly 64% below the 0.618 level, while the most recent bottom was closer to 45% below. In the current cycle, the 0.618 retracement sits near $57,000.
Even a relatively mild 30% move below that level would imply a potential bottom around $42,000, underscoring how compressed downside risk has become compared to prior cycles.
Image: Shutterstock
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