📉 Bitcoin Breaks Below $70K — “Warsh Shock” Triggers Liquidity Exodus

• Key BTC Breakdown

Bitcoin broke through the critical $70,000 support level, falling as low as ~$67,600 — the lowest in 15 months — amid a broader market rout and forced deleveraging.

• Liquidity & ETF Outflows

The crash was amplified by massive liquidity outflows and traders unwinding leveraged long positions. Spot Bitcoin ETF assets have dipped under major thresholds, contributing to selling pressure.

• Macro Catalyst: Fed Nomination Reaction

Markets are pricing in tighter liquidity after the nomination of Kevin Warsh as the next Federal Reserve Chair — seen as hawkish on balance sheet reduction — which has spooked risk assets like crypto.

• Broader Derivatives Impact

The break of support triggered a cascade of long liquidations, erasing billions in leveraged positions and reinforcing volatility across altcoins as well.

💡 Expert Insight:

This move highlights BTC’s sensitivity to liquidity conditions and macro policy expectations — cracking psychological levels often accelerates technical selling, even if long-term fundamentals remain debated.

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