I just noticed that BTC dropped below 70K this week, now hovering around 70.8K. There are a few factors affecting the market that I find noteworthy.

First is the tense geopolitical situation – strong statements about the Middle East are pushing oil prices up, and when energy prices rise, the entire financial market is affected. I saw US stock futures decline more than 1% on that day. Second, the US employment data just released was quite disappointing – the number of new jobs decreased significantly compared to the previous period, and the unemployment rate also increased. Such figures always make investors worried.

An interesting point is that on trading platforms, a large amount of BTC has been moving off exchanges in the past 24 hours – it seems like many people are transferring their coins. This could be a sign of bigger changes happening. I will continue to monitor whether BTC can recover to 69K or test lower.