So Bitcoin just lost the $70,000 level and this is not just an ordinary sign – it’s more than a warning of what might come. The price is currently around $71.8K with quite volatile action. The $68,000-$70,000 level that has served as support has failed to hold. Looking deeper, when Bitcoin and Ethereum drop, smaller altcoins usually follow with sharper declines. Last week, ZEC rose by 47%, ATOM increased by 2.46%, but that can change quickly if strong momentum continues to weaken.

On-chain data shows the market is in a pressure phase – there’s no clear capitulation bottom yet. This means the unwinding process is still ongoing and could go deeper. There are also other concerns emerging: quantum computing risk, the BIP-110 spam debate, and shifts in institutional flows such as Harvard reducing their Bitcoin ETF exposure by over 20%. If Bitcoin fails to reclaim $70,000 again, focus will shift to $65,000 or even $60,000. So more than just a sign, this is a critical momentum that needs to be taken seriously.