Bitcoin traded around $68,500 in its latest session, slipping below the $70,000 to $75,000 range it held in prior sessions. Matt Mena, a senior crypto research strategist at 21Shares, said a sustained drop below $69,000 could trigger a test of support at $65,000, while a real recovery would require Bitcoin to reclaim $70,000 first and then $74,000. Intraday lows reached somewhere between $67,500 and $68,000, and the price has dipped below its 200-week moving average near $68,000. Market analysts tied the decline to broader market conditions rather than crypto-specific catalysts, shifting attention toward US dollar strength and inflation data. Mena remained cautiously optimistic on the longer horizon, citing average fourth-quarter returns of over 61% and pointing to possible targets of $87,000 and beyond $90,000, with ETF flows and institutional demand as variables to watch.
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