Bitcoin loses $73K as US stocks sell off: Analyst says BTC price action not ‘abnormal’

💡 DMK Insight

Bitcoin’s drop below $73,000 is a critical moment for traders, especially with futures liquidations spiking. The recent sell-off in equities, driven by concerns over upcoming US corporate earnings, has created a ripple effect in the crypto market. Traders need to watch how BTC reacts to this psychological support level. If buying pressure emerges here, it could signal a reversal, but if it breaks down further, we might see a cascade of selling. Keep an eye on the $70,000 mark as a potential pivot point. Additionally, the correlation between BTC and equities suggests that any volatility in the stock market could directly impact crypto prices. Here’s the thing: while many might see this as a buying opportunity, the risk of further downside remains significant. Institutions could be waiting for more clarity from earnings reports before making their next move. Watch for volume spikes and sentiment shifts in the coming days to gauge whether this dip is a buying opportunity or a precursor to deeper losses.