Just noticed BTC is struggling to hold above $70K again, and honestly it's starting to feel like a warning signal. We bounced there briefly but couldn't stick the landing, and now we're back testing lower support around $68K. That $68K-$70K range that held us through early February? Yeah, losing that is not ideal. If we break below $67K cleanly, we're probably looking at $65K or even $60K next.

What's interesting is the divergence happening right now. Bitcoin, Ethereum, and BNB are all down a few percent this week, but smaller caps like ZEC and ATOM are still posting solid gains. Historically this never ends well for the alts - when the big boys start struggling, the rest of the market usually follows pretty fast.

On-chain data is showing we're in a stress phase but haven't hit capitulation yet, so this unwind might not be finished. Add in the noise around quantum computing risks and some institutional repositioning (Harvard cut bitcoin ETF exposure in Q4), and the technical picture is the only thing that matters right now. Reclaim $70K and momentum resets. Fail and we're pricing in deeper pain. That's the battle we're watching.