Yesterday, Bitcoin's short-selling attack landed precisely, and the bearish prediction of breaking below the 70,000 level was perfectly fulfilled. The price dipped to a low of $70,100 intra-day, hitting the target exactly, which has made the market highly attentive to the continuation of the bearish momentum. Currently, the support battle around the 70,000 integer level has also become the core focus of today’s market. Whether this critical psychological barrier can hold or not, and whether Bitcoin will break below 70,000 and enter the 60,000 price range, has become the market’s key question that all investors are watching closely.

From the current market structure, there are no clear signs of weakening in the bearish forces. Bitcoin has recently continued its one-sided weakness, with daily candles closing lower and breaking through previous key consolidation zones. Trading volume has been steadily increasing during the decline, confirming the strong selling pressure. The $72,000 level, previously recognized as a critical support, has been broken, and the $70,000 level, as an important psychological barrier and the last visible support in the short-term technical picture, has weakened in its defensive strength due to the consecutive failure of previous supports. Yesterday’s precise dip to $70,100 further exposed the pressure on this level.

If the support at the 70,000 level is effectively broken, a move into the 60,000 range becomes highly probable. From a technical perspective, once this level is lost, the next support zone directly below is between $68,000 and $65,000, which is also the next target widely anticipated by the market. From a market sentiment standpoint, panic sentiment in the crypto market continues to spread, with the Fear & Greed Index remaining low. A breakdown of the 70,000 level could easily trigger a new round of panic selling, pushing prices further downward. Additionally, recent factors such as the global risk appetite decline and fluctuations in Bitcoin spot ETF fund flows have also supported the bears. If there is no strong buying support from bulls today, a move into the 60,000 range will become the market’s natural choice.

Of course, near the 70,000 level, there is still a possibility of bullish resistance. Currently, Bitcoin’s short-term indicators have entered oversold territory, indicating a technical rebound may be needed. If today there are signs of volume-supported stabilization near the 70,000 level—such as a long lower shadow on the candlestick or a bullish reversal pattern—it could trigger a short-term rebound, temporarily holding the 70,000 level. However, it’s important to note that if this rebound lacks volume and fundamental support, it is likely just a brief pause within the bearish trend and unlikely to fundamentally reverse the current weakness.

Overall, the precise bottoming at $70,100 yesterday has set a bearish tone for today’s market, and the fate of the 70,000 level will be a key dividing line for the market’s direction. Holding above it will likely lead to short-term oscillation and recovery, while breaking below will quickly turn the 60,000 range into a new battleground. In a market dominated by bears, investors should remain cautious, closely monitor volume changes at key levels, avoid blindly bottom-fishing, and wait for clear directional signals before making moves.