Bitcoin plums new six-week lows as analyst eyes BTC price dip 'end' at $72K
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- Bitcoin fell to $72,395 on Bitstamp at the open of US trading, marking its lowest price since mid‑April.
- S&P 500 opened with new record highs, while the Dow Jones also hit fresh peaks, underscoring a divergence from Bitcoin.
- Michaël van de Poppe warned that the $72,000‑$74,000 range is a decisive support zone and said a breakout above $77,000 would signal the next upward leg for Bitcoin.
- CGT Trader flagged a potential long‑squeeze, noting that funding remains heavily positive, open interest is falling, and spot volume is weakening.
- CoinGlass reported over $200 million in cross‑crypto liquidations in the past 24 hours.
Why it matters: Traders with short positions profit as Bitcoin tests $72k support, while long holders face liquidation risk; the $200 million liquidation surge amplifies market volatility and pressures altcoins lower.
