Recently Bitcoin dropped a 3% price slide, raising concerns about a potential drop to $69,000. Analysts suggest that Bitcoin's price weakness could lead to further declines, with liquidation levels around $83,000 and $84,300 being critical. The Spent Output Age Bands indicator shows that long-term holders are moving their coins, which could be a bearish sign. However, some traders believe that Bitcoin might find support around $69,000, a significant psychological level.
There is importance of monitoring market sentiment and macroeconomic factors that could influence Bitcoin's price trajectory.
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