Bitcoin Dips to 66500 Ethereum Falls Below 2700 Healthy Correction or Trend Reversal

CoinJin.com reported:
After reaching a high of $69,546 yesterday morning, “selling pressure began to emerge” for Bitcoin. After falling below $67,000 last night, it briefly approached the $66,500 level around 8:30 am, quickly pulling back below the low point of October 17th, causing many investors to be washed out.
As of the deadline, it pulled back to $67,296, a 2.46% drop in the past 24 hours. The current upward trend of Bitcoin seems to have been interrupted. Whether this is just a temporary correction or the main force wants to kill first when market sentiment is high and then pull back closer to the US election, remains to be seen with time.


Ethereum, on the other hand, is weaker. After reaching a high of $2,769 yesterday, it continued to fluctuate and fall, currently returning to the consolidation zone around $2,640.


In the past 24 hours, the entire network has liquidated $204 million.
During the decline of Bitcoin, according to Coinglass data, in the past 24 hours, the total liquidation amount of cryptocurrencies exceeded $204 million, with nearly 63,000 people being liquidated.
Although the liquidation data has increased compared to yesterday, it is not too severe based on historical data, and it is speculated that the volatility may further increase in the future.


Image source: Coinglass
On the other hand, although the open interest contracts of Bitcoin on exchanges have fallen from a new high of $40 billion, overall, they are still at a relatively high point, and more severe market fluctuations may occur at any time.