On March 5, 2024, #BTC returned to US$69,000 after 848 days. In the past 848 days, it experienced a decline of more than 77% and a maximum increase of 343%, and BTC experienced the lowest point of US$15,476.

Just at 20:00 pm on March 5th last night, BTC once again accurately returned to a record high of $69,000, then plummeted 9,995 points and bottomed out at $59,005. Today, the white market rebounded by more than 5,300 points to around $64,000.

This drop resulted in the liquidation of more than 312,000 positions in the market, and the liquidation amount exceeded US$1.1 billion, with the main force being bullish.

Will this decline directly affect the subsequent market trend? Analysts from the Unbounded Club believe that the market will only gradually get better in the future without a cliff-like decline. The possibility of the sudden 10,000-point plunge last night is because the bullish chips in the current market are too concentrated, leading to a liquidation position. Also concentrated at $64,000-$68,000.