Bitcoin (BTC) fell below $70,000 for the first time in two months on Tuesday, hitting $69,631 on Bitstamp as selling pressure continued.
Total liquidations across crypto leveraged positions neared $800 million in 24 hours, according to CoinGlass data. Long positions bore the brunt.
Trader Ardi highlighted the loss of $72,500 as key, warning the next major support sits around $68,700. Material Indicators flagged that a break below $69,000 could bring the 200-day moving average into play, calling further downside "Bearadise."
Stocks, meanwhile, continued to rally, with the S&P 500 posting fresh all-time highs above 7,600, extending a historic winning streak. Bitcoin's sell-off was compounded by uncertainty over US-Iran ceasefire talks, though President Trump indicated negotiations were ongoing.
