Bitcoin price falls below $70,000 after plummeting 21% this week.

Bitcoin's price fell below the $70,000 mark on Tuesday, recording a daily low of $69,922 at the time of writing. This is the first time BTC has traded at this level since November 2024, indicating the magnitude of the ongoing correction.

This decline is primarily driven by negative macroeconomic signals coupled with aggressive delevuring in the Derivative market. Over the past 24 hours, the total value of consecutive liquidation orders reached approximately $451 million, intensifying selling pressure and accelerating the price drop.

With a key psychological support level breached, Bitcoin's price risks further declines, with $65,000 being the next crucial support point for investors to watch if the downtrend continues.