Bitcoin Dips Below 66500 Ethereum Falls Below 2700 Healthy Correction or Trend Reversal

CoinJiexi.com reported:


After reaching a high of $69,546 yesterday, Bitcoin began to fluctuate and fall. Earlier, it approached $66,500, which caused many investors to be washed out. Ethereum had an even larger decline, returning to the consolidation zone around $2,640.
After reaching a high of $69,546 yesterday morning, “selling pressure began to emerge” for Bitcoin. After falling below $67,000 late last night, it once again approached the $66,500 level around 8:30 in the morning, quickly pulling back below the low point of October 17 and washing out many investors.
Before the deadline, it rebounded to $67,296, a decrease of 2.46% in the past 24 hours. The upward trend of Bitcoin seems to have been interrupted. Whether this is just a temporary correction or the main force wants to kill off some positions while the market sentiment is high and then pull back closer to the US election remains to be seen over time.


Ethereum is even weaker. After reaching a high of $2,769 yesterday, it continued to fluctuate and fall, and is currently back in the consolidation zone around $2,640.


Over the past 24 hours, the entire network has liquidated $204 million. According to Coinglass data, nearly 63,000 people have been liquidated.
Although the liquidation data has increased compared to yesterday, it is not too serious based on historical data, and it is speculated that the future volatility may further increase.


Source: Coinglass
On the other hand, although the open interest of Bitcoin’s contracts on exchanges has fallen from a new high of $40 billion, it is still relatively high overall, and more intense market fluctuations may occur at any time.