Bitcoin traded around $75,700 on Sunday, down 2.6% over seven days, after reaching $74,762 on Friday, its lowest level since August 21. Three signals are causing concern ahead of Wall Street’s reopening on Monday: the roughly $1.5 billion increase in open futures positions despite the price decline, $1.28 billion in withdrawals from US Bitcoin ETFs last week, and weakness in equity markets amplified by geopolitical tensions and US employment data. The key technical support is near $75,500, at the 50-week simple moving average; a break could push bitcoin down toward $69,000. Meanwhile, US data showing 165,000 jobs created raised the probability of a Federal Reserve rate hike in December to 76.8%.
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