$BTC Bitcoin (BTC/USDT) has experienced a sharp correction, trading around $66,000–$67,000 today after dropping below $70,000 — its lowest level since November 2024. This marks an ~8-9% decline in the past 24 hours and erases much of the post-2024 election gains, with BTC down ~44% from its October 2025 peak near $125,000–$126,000.
Key drivers of the dip:
Risk-off sentiment across global markets: BTC is behaving like a high-beta risk asset rather than "digital gold," diverging sharply from gold's strength.
Hawkish macro signals: Nomination of Kevin Warsh as potential Fed chair (favoring higher rates/smaller balance sheet) weighs on risk assets.
Institutional outflows & ETF pressure: Significant spot BTC ETF outflows and thinning liquidity amplify volatility.
Leveraged liquidations: Cascade of forced selling from over-leveraged positions triggered billions in wipes, accelerating the downside momentum.
Broader factors: Geopolitical uncertainty, stalled regulatory progress, and correlation with tech stock sell-offs contribute to the "crypto winter" feel.
Current technicals (from recent charts): Price well below major MAs (e.g., MA7 ~$76k), heavy ask-side dominance in order books, and extreme fear (Fear & Greed ~11). Support tests around $65k–$66k; potential further downside to $60k–$65k if selling persists, though capitulation could set up a reversal.
#WhenWillBTCRebound #WarshFedPolicyOutlook #BTC
