Bitcoin Price Slips Below Psychological $70,000 Support
The cryptocurrency market faced severe downward pressure on Tuesday morning as the Bitcoin price officially broke below the critical $70,000 psychological baseline. $BTC dropped by nearly 4% over a 24-hour window, hitting intraday lows near $69,371.
Bitcoin price today in USDThis unexpected correction has disrupted weeks of sideways momentum and triggered a cascade of automated sell orders. Total crypto market liquidations surged past $766 million within a matter of hours, with over $600 million consisting of overleveraged long positions being wiped out.
Why Is Bitcoin Crashing? Two Major Catalysts
The sudden breakdown below $70,000 is primarily attributed to a combination of institutional sell pressure and the sudden awakening of long-dormant wallets.
1. MicroStrategy Breaks Its "Never Sell" Stance
Market anxiety intensified following a Securities and Exchange Commission (SEC) 8-K filing revealing that MicroStrategy ...
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