Bitcoin falls to its lowest point since November last year, analysts say it may further retrace to $70000 Odaily Planet Daily reported on Thursday that the price of Bitcoin plummeted to its lowest point since November last year, and the cryptocurrency market also experienced a significant sell-off. The recent decline was triggered by a significant drop in early morning gold and stocks in the United States, but despite these markets having rebounded significantly from their lows, cryptocurrencies have not experienced a similar rebound, highlighting the relative weakness of the industry. Matt Mena, a cryptocurrency research strategist at 21Shares, stated that it is crucial for Bitcoin to maintain its support level of $84000. He pointed out that if this support level cannot be maintained, the next target level will be the $80000 point where buyers entered the market in November last year; If it falls below this level, it means that Bitcoin will drop to the low point of $75000 hit during the tariff storm in April 2025. John Glover, Chief Investment Officer of Ledn, a Bitcoin lending platform, believes that today's sell-off is part of the overall correction of Bitcoin since reaching a historic high in October. This round of decline may ultimately lead to the price of Bitcoin falling to $71000, a 43% decrease from $126000 in early October. Russell Thompson, Chief Investment Officer of Hilbert Group, said, "The technical support level has fallen below, and I believe that Bitcoin currently lacks support, and the price of Bitcoin may fall to $70000