Greeks.Live: Traders are focusing on $75,000 and the $67,000-$70,000 range as potential support zones

ChainCatcher news, according to the daily briefing from the Greeks.Live English community, traders are currently focusing on $75,000 and the $67,000-$70,000 range as potential support zones. While there are views that the price may rebound to the $92,000-$94,000 range, most people are cautious about establishing new positions until clear signals appear.

Bitcoin's price plummeted from $94,000-$96,000 to around $80,000 within a week, causing significant losses for traders. Some users reported account drawdowns of up to 70%, stating that "7 months of profits have vanished."

This sell-off has been described as a loss of momentum, with no clear catalyst. It is noteworthy that during the decline, the perpetual contract funding rate remained positive, which is different from the situation when the market typically bottoms out.