Bitcoin Drops to 66500 Ethereum Falls Below 2700 Healthy Correction or Trend Reversal

Coin World News Report:
After reaching a high of $69,546 yesterday morning, “selling pressure began to emerge” for Bitcoin. Last night, it briefly dropped below $67,000, and then rebounded to nearly $66,500 around eight-thirty in the morning, breaking the low point of October 17 and causing many investors to be washed out again.
At the time of submission, it rebounded to $67,296, a drop of 2.46% in the past 24 hours. The current upward trend of Bitcoin seems to have been interrupted. Whether this is just a temporary correction or the main force wants to kill first when the market sentiment is high and then pull back closer to the US election, it remains to be seen.


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


Over the past 24 hours, the entire network has liquidated $204 million.
During the downturn of Bitcoin, according to Coinglass data, in the past 24 hours, the total amount of liquidation of cryptocurrencies on the entire network exceeded $204 million, and nearly 63,000 people were 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 subsequent fluctuations may further amplify.


Image source: Coinglass
On the other hand, although the open interest contracts of Bitcoin on exchanges have fallen from a new high of $40 billion, overall, they are still at a relatively high point, and more severe market fluctuations may occur at any time.