Bitcoin Sees First $69,000 Dip in 15 Months as 'Someone Enormous' Sells

Cointelegraph reports Bitcoin (BTC) fell below $70,000 on Thursday, dropping to $69,100 on Bitstamp during the Asia session — its lowest level in 15 months and the first trip to the $60,000 range since November 2024. The plunge triggered about $130 million of crypto long liquidations over four hours, CoinGlass data showed.

The move coincided with a flash reversal in precious metals: gold fell as low as $4,789 before retargeting $5,000, while silver swung between $90 and $73 per ounce. Traders noted lower targets, including the area around $50,000, and identified the 200-week exponential moving average as key support directly below $69,000.

Market participants told Cointelegraph they suspect large entities are selling on a schedule. Trader CW warned "$BTC has entered a key support zone" and said a failure to hold the 69k level could prompt further declines. Alistair Milne agreed with Peter Brandt, writing that "Someone enormous is unloading to a deadline" and suggesting the selling began on 14th Jan.