Bitcoin fell below 70 thousand dollars again due to selling pressure and geopolitical risks

According to data from analysis company CoinMarketCap, the total value of the global cryptocurrency market, including bitcoin, decreased by approximately 4.73 percent in the last 24 hours, falling to 2 trillion 320 billion dollars.

The price of bitcoin, the largest cryptocurrency in terms of market value, lost nearly 6 percent of its value in the last 24 hours, falling to its lowest level since August.

The weekly value loss of bitcoin, which was traded at 69 thousand 191 dollars as of 10.30, approached 10 percent. Bitcoin is approximately 45 percent below its historical peak of approximately $126 thousand, recorded in October 2025.

The decline in Bitcoin also negatively affected the altcoin market. The price of Ethereum, which ranks second in terms of market value, lost approximately 5 percent of its value and fell to the level of 1942 dollars.

Liquidation of $1.3 billion in leveraged transactions

Analysts state that the forced closure of leveraged positions in derivative markets lies at the root of the sharp retreat in the market.

According to CoinGlass data, more than $1.3 billion in futures positions were liquidated in the last 24 hours, while approximately $677 million of this amount was made up of bitcoin transactions.

On the other hand, ongoing outflows from spot bitcoin exchange-traded funds (ETFs) in the US also increased the pressure on prices.

Geopolitical risks and bond yields pressure the market

Macroeconomic and geopolitical developments in global markets also reduced investors' risk appetite.

While the news flow regarding the re-escalating military tension in the Middle East triggered sales, the increase in bond yields following stronger than expected inflation data in the USA also put pressure on non-interest bearing assets.

The hawkish-toned statements of the US Federal Reserve (Fed) officials and the expectation that legal controls on the cryptocurrency sector may tighten after the midterm elections in the country also supported the downward trend in the markets.