Bitcoin fell to $67,500 on Friday, touching its 200-week simple moving average at $67,993 for the first time in 11 weeks. The level has historically served as support or resistance during Bitcoin cycle lows, and decisive moves back above it have often preceded sharper rallies. Material Indicators co-founder Keith Alan said Bitcoin could revisit $57,700 if its weekly relative strength index fell below 41.5. The decline was accelerated by Asian market reactions to Jensen Huang’s resignation as Nvidia CEO, which also contributed to a 0.2% drop in Nasdaq 100 futures.
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