Bitcoin Slips, $67.3K Now Key Short-Term Level

 Key Insights:

• Bitcoin trades below $70,969 as short-term corrective structure remains active.
• Analysts identify $67,300 as key liquidity zone for potential price sweep.
• Adjusted SOPR returns to 0.92–0.94 range seen in past corrections.

Bitcoin(BTC) trades at $68,717.66, down 2.3% over the past 24 hours. The seven-day loss stands at 2.71%, with daily volume near $38 billion. Market focus has shifted to the $67,300 area as traders watch for a short-term move lower.

Crypto Tony wrote that “a dip to $67,300 minimum is what I am looking for this week.” He added that there is “a lot of untapped liquidity below” that could later support price. His view follows recent price action below key resistance.

Price Structure Enters Pullback Phase

On the 1-hour chart, Bitcoin moved below the prior wave-4 low. That break signals a short-term pullback. Price has already retraced to the 50% Fibonacci level near $68,026.

Man of Bitcoin stated that “price is now in a corrective pullback phase.” He noted that a larger ABC pattern remains possible while Bitcoin trades below $70,969. That level now acts as near-term resistance.

If selling continues, the next retracement levels stand near $67,343 and $66,381. These match the 61.8% and 78.6% Fibonacci levels. Below that, support appears near $65,700 and $64,364.

Liquidity Cluster Near $67,300

On the 4-hour chart, Bitcoin trades under the $71,000–$72,000 resistance band. Recent candles show lower highs forming below that range. The structure keeps short-term pressure in place.

The $67,300 zone aligns with recent intraday lows and visible stop clusters. A move into that area could clear resting orders. As long as Bitcoin stays above the broader $65,500 region, the current range remains intact.

On-Chain Metric Returns to Stress Area

CryptoQuant reported that Bitcoin’s Adjusted SOPR has moved toward the 0.92–0.94 band. The firm said this zone “historically marked major bear market stress points.”

Adjusted SOPR below 1.0 shows coins moving at a loss. Similar readings appeared during corrections in 2019 and 2022. Bitcoin now trades near $68,400 while the metric approaches this range.

Traders now watch whether price finds support near $67,300 and whether aSOPR stabilizes above 0.92. Both price structure and on-chain data remain in focus during this pullback.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.