Breakout of the rising channel and potential for the further drop..
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
Bitcoin corrects more than 7% so far this week, hitting an intraday low of $67,568 on Friday. Rising liquidations, continued ETF outflows, and weakening risk appetite are leaving BTC vulnerable to further downside.
Ripple remains on edge, trading around $1.00 on Friday. The remittance token’s sharp decline has persisted since November 5, initially triggered by the $6.3 billion Binance hack and later accentuated by the US midterm elections.
Bitcoin's (BTC) sell-off deepens on Friday, with the spot price below $69,000. The largest crypto by market capitalization leads the intense selling, with Ethereum (ETH) below $2,000 and Ripple (XRP) hovering just above $1.00.
Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.
![BTC/USD – Potential for the further drop towards support zone [Video]](https://editorial.fxsstatic.com/images/i/BTC-bullish-animal.png)