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

According to the daily brief from the Greeks.Live English community, traders are currently focusing on $75,000 and $67,000-$70,000 as potential support ranges. Although some believe that prices may rebound to the range of $92,000-$94,000, most people are cautious about establishing new positions before clear signals appear.

The price of Bitcoin plummeted from $94,000-$96,000 to about $80,000 within a week causing significant losses for traders. Some users reported account retracements of up to 70%, with "seven months' profits turned into nothing".

This sell-off has been described as out-of-control momentum without any clear catalysts. Notably during this decline process perpetual contract funding rates remained positive which is different from previous market bottoms.