Bitcoin (BTC) traded below $70,000 for the first time in two months on Tuesday as sellers stayed in control.

Key points

• Bitcoin drops under $70,000 to new two-month lows.
• Analysis sees 200-day trend lines coming back into play as bulls fail to rescue BTC price action.
• Stocks continue to post record highs while crypto stays bearish on US-Iran events.

BTC price analysis warns of “bearadise” as support thins

Data from TradingView showed new BTC price lows of $69,631 on Bitstamp.

After failing to follow stock markets higher, BTC/USD increased its divergence from other risk assets to fall by nearly 2% on the day.

Crypto long positions paid the price, with total 24-hour liquidations on Bitcoin…