From a technical perspective, losing $70,000 has altered the market structure. After several unsuccessful attempts to regain the $71,000–$73,000 range, the level now serves as resistance.

The price is still below the 50-day and 20-day moving averages, which are both limiting attempts at an upward trend. Momentum is still lacking. The relative strength index is in the 32–34 range, indicating an oversold situation without a definite bullish divergence. 

After a period of compression, the price is clinging to the lower Bollinger Band as the bands begin to widen. In similar situations, failing to reclaim the mid-band often leads to further downside. Volume patterns reinforce this outlook, showing steady liquidation rather than panic selling, since sell-side spikes are not met with strong rebound activity.

A brief push toward $73,000–75,000 is feasible if Bitcoin can maintain above $68,000–69,000 and recover $71,000. A sustained close above the 50-day average near $79,000 would be needed to shift the trend.

On the downside, failure to defend $68,000 keeps pressure intact. A break below $62,800 opens the door to $60,000, with deeper liquidity waiting near $58,000.

A U.S. federal court has sentenced a key figure behind a global cryptocurrency investment scam to 20 years in prison, capping one of the largest crypto-fraud prosecutions tied to so-called “pig butchering” schemes.

The operation defrauded victims of more than $73 million, largely through fake trading platforms and online deception.

Fugitive sentenced in Absentia

The defendant, Daren Li, was sentenced in the Central District of California despite being a fugitive at the time of sentencing. Li, a dual citizen of China and St. Kitts and Nevis, removed his electronic ankle monitor and fled U.S. supervision in late 2025.