Bitcoin teeters around 70k as October liquidation weighs on prices

Bitcoin hovered around the mid-$70,000s after the October 10 liquidation crash, its lowest since the 2024 election, and is down about 4% in 24 hours with an over 40% drop from the Oct 6 all-time high. Analysts say further downside could come if BTC breaks below $70,000, potentially targeting the $55,700–$58,200 zone as liquidity thins and moving averages come into play. The market remains pressured by heavy liquidations (about $758 million in 24 hours, nearly $7 billion in the last week) and ETF outflows, signaling a broader risk-off sentiment amid macro uncertainty.