I have a feeling that Bitcoin dropping below $70k isn't just a simple price correction but suggests a deeper issue. Last Monday, there was a temporary attempt to regain $70k, but ultimately, selling pressure pushed it back down, and now it's hovering around $68,000. Losing this level is subtly significant because it was the support line since early February.

What’s concerning is the distortion where, despite Bitcoin, Ethereum, and BNB all weakening over the past week, smaller coins like Zcash and Cosmos are rising nearly 20%. According to market analysts, when large-cap assets stagnate, smaller-cap assets tend to follow suit soon after. On-chain data also indicates that the market is entering a stress phase, adding to the growing unease.

Discussions are heating up on the technical side as well, with concerns about quantum computing risks, and the possibility that the BIP-110 spam reduction proposal could create new reputation risks. Multiple worries are piling up. It also seems that institutional investors are changing their strategies, with reports that Harvard funds have significantly reduced their holdings in Bitcoin ETFs.

From a technical perspective, whether Bitcoin can reclaim $70k is a critical turning point. Failure to do so could see it drop to $65,000 or even $60k. As for XRP, adoption is progressing through integration into Rakuten’s payment app, but attention must be paid to the $1.37 pivot point.