Bitcoin slips to $68,500 as 21Shares strategist maps out key price tests

Matt Mena warns a break below $69,000 could open the door to $65,000, while bulls need $70,000 and $74,000 back Bitcoin traded around $68,500 in its latest session, sliding below the $70,000 to $75,000 range it held in prior sessions. Matt Mena, a senior crypto research strategist at 21Shares, said a sustained drop below $69,000 could potentially trigger a test of support at $65,000. For a real recovery, he said, Bitcoin would need to reclaim $70,000 first, then $74,000. The selling pushed Bitcoin’s intraday lows to somewhere between $67,500 and $68,000. Market analysts tied the drop to broader market conditions rather than anything specific to crypto. The more telling detail is where Bitcoin is now trading. It has dipped below its 200-week moving average, which sits near $68,000.

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