【BTC Breaks Below $64,000: What Is the Market Pricing In?】

On the 4-hour chart, BTC has fallen below multiple moving averages, with price making a series of lower lows and lower highs. MACD remains weak, and trading volume has increased noticeably during the decline, indicating that bears are still in control and this is more than just ordinary market choppiness.
ETH is performing even worse, with a larger decline than BTC, suggesting that risk appetite for high-beta assets is contracting rapidly. The market may be digesting macro liquidity conditions, a correction in tech stocks, regulatory expectations, and pressure from deleveraging within the crypto market itself.
The midterm elections, Nvidia-related rumors, and other news marked on the chart can be monitored as potential sentiment catalysts, but their timing alone is not enough to conclude that they directly caused this decline. Claims involving Jensen Huang’s resignation, private life, or a political purge should be verified against company announcements, regulatory filings, and reliable media reports.
Technically, the market currently looks more like it is in an oversold phase within a downtrend:
The first thing to watch during a rebound is whether BTC can reclaim $66,000–$68,000;
If the rebound fails to move back above key moving averages, further declines remain a risk;
If price breaks below the previous low and then stabilizes on increased volume, with bullish divergences forming on MACD and RSI, a short-term recovery may be possible;
Until ETH reclaims key resistance, it should not simply be treated as “cheap because it’s oversold.”
The more fearful the market gets, the more important it is to separate facts, rumors, and technical structure. The priority right now is not to guess the bottom, but to manage position sizes, avoid leverage, and wait for genuine signs of stabilization.
For market discussion only; not investment advice.