Bitcoin fell below $68,000 on Friday and dropped under $67,000 on Saturday, after trading above $81,000 ten days earlier. DWF Labs’ Martin Lee notes that the roughly $75,000 50-week moving average has been lost, while the major $68,000 200-week moving-average support is at risk. He believes a weekly close below that level could open the way for a further decline toward $60,000. Bitget Wallet Research’s Lacie Zhang identifies intermediate support levels at $68,000, $65,000 and $62,000. The downturn is attributed to macro risk aversion, persistent spot Bitcoin ETF withdrawals, leveraged long liquidations, weakness in technology stocks, the Nvidia scandal and hotter-than-expected U.S. inflation.
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