Macro headwinds test Bitcoin price as $70K crumbles amid US market volatility

💡 DMK Insight

Bitcoin’s struggle to breach $70,000 signals potential volatility ahead. The recent failure to maintain momentum above this psychological level coincides with a concerning shift in US macroeconomic indicators, particularly a fear metric that has crossed a critical threshold. This could trigger a wave of profit-taking among bulls, pushing BTC back toward its yearly lows. Traders should keep an eye on the $65,000 support level; a breach here could accelerate selling pressure and lead to a deeper correction. Additionally, the broader market sentiment is shaky, with correlations to traditional assets like tech stocks suggesting that any downturn in equities could further impact Bitcoin negatively. On the flip side, if Bitcoin can reclaim the $70,000 mark, it might reignite bullish sentiment and attract new buyers. So, watch for a decisive move either way—this could set the tone for the coming weeks.