Bitcoin Drops Below $70,000 as Annual Losses Deepen
The cryptocurrency is down 21.72% in 2026 amid selling pressure and uncertainty over U.S. interest rates.
Bitcoin has fallen below the psychological $70,000 level and intensified its downward trend in recent weeks. The asset has recorded a 21.72% decline throughout 2026. November has seen losses of 11.57% following a negative performance in October.
The technical outlook shows the price trading below short-term moving averages. After reaching a resistance level of $87,395, the asset lost momentum and began forming lower highs and lower lows. The lack of a clear reversal keeps the risk of further declines alive in the near term.
This instability reflects a climate of lower risk appetite and reduced institutional inflows. Data from Glassnode shows that short-term investors are operating at a loss. Additionally, a lower supply of stablecoins limits the liquidity required for a consistent recovery.
The market is awaiting the release of the U.S. Producer Price Index this Friday. This economic data points to future expectations regarding American interest rates. The sector continues to feel the effects of the multi-billion dollar attack on the Binance exchange that occurred in October.
The downward movement in Bitcoin reflects global caution toward risk assets in the face of uncertainty regarding U.S. monetary policy. Pressure on the asset's price may increase market volatility.
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