Why the Market is Crashing at the $70K Wall ?

2026-02-11 18:47:12

BTC just hit a massive rejection at $70,000, and the whole market is feeling the heat. This isn’t just a “normal dip”, here is the breakdown of what is actually happening:

The $70K “Glass Ceiling”: Bitcoin has failed multiple times to hold above $70,000 this week. 70K is a mega resistance zone, it’s where late buyers from the last leg up are taking profits and leveraged longs are getting wiped out, creating constant sell pressure.

Analysts warn that bulls lack the momentum to flip the $69,000–$70,000 zone into support, leading to a “reflex rally” that just got sold off.

Institutional Exit: Large players are pulling back. Spot Bitcoin ETFs have seen three straight weeks of outflows, with over $318 million leaving just last week.

After months of inflows, spot BTC ETFs turned into net sellers, leaving a 50k+ BTC “demand gap” that takes real buyers to fill.

The “Warsh” Factor: The market is spooked by the nomination of Kevin Warsh as the next Fed Chair. His history as a “monetary hawk” has traders worried about a major squeeze on liquidity.

Leverage Flush: Over $397 million in liquidations happened in a single 24-hour window. When Bitcoin failed to hold $70k, it triggered a “stop run” that wiped out over leveraged traders. Billions in liquidations turned a normal correction into a cascade, dragging altcoins down even harder than BTC.

We are currently testing the $66,500 area. If we lose the $63,000 support, the “panic zone” at $60,000 is the next stop.

$btc

BTC-2,79%

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