BTC breaks below $72.6K support, with $69.1K seen as next key level

Jiang Zhuoer, founder of mining pool BTC.top and a blockchain entrepreneur with Chinese roots, said on X that Bitcoin's next major support level is $69,100. Jiang said BTC had fallen below $72,600, the 50% retracement level of its broader upswing, making $69,100, the 61.8% retracement level, the next key area to watch. Jiang added the market now needs to see whether BTC can rebound before dropping under $70,000. He also said a short hedge position set at twice the size of his current BTC holdings would look for a chance to be closed at $73,000.