Bitcoin has been trading below $80,000 in recent days, and this decline creates an interesting dynamic at the technical levels in terms of 66. Massive liquidation of futures contracts in January has put significant pressure on the market. When examining price movements during the Asian morning, it is very clear how effective these liquidations are.

The most important point I have observed in the market in recent weeks is the volatility caused during the closing of large positions. Bitcoin, trading around $73,000 in the futures market, frequently fluctuates due to the liquidation of highly leveraged positions. These movements are especially more pronounced during the Asian session.

From a technical perspective, whether it breaks important levels like the significance of 66 seems to determine the direction of the subsequent price movement. As long as liquidations continue, this volatility is likely to persist. Currently, staying below $80,000 can be considered an indicator of short-term downward pressure.