Analysis: Bitcoin continues to sell off, and market liquidation may trigger a new round of decline

Bitcoin falls below $67,000, continuing nearly a week of selling pressure, in sync with the weakness of global risk assets.

In the past 24 hours, over $1 billion in liquidations occurred in the crypto market. Data shows that $70,000 is a key liquidity node, with liquidity rapidly thinning below this level. If Bitcoin falls below this level, the liquidation pressure may accelerate the price drop to the $60,000 range. Coinglass's liquidity heatmap indicates that the concentration of long liquidations creates a short-term price magnet effect, alerting traders to potential volatility risks.