Hilbert Chief Investment Officer: BTC Break Below $71,900 Could Test $65,000

TechFlow reported on Nov. 10 that, according to Hilbert Group, Chief Investment Officer Russell Thompson said in trading views on Nov. 9 that funding pressure in the AI and chip sectors could trigger margin calls, forcing investors to sell non-core assets such as Bitcoin.

He believes Bitcoin’s short-term technical outlook is bearish, with the $71,900 area serving as a key trendline support; if that level breaks, $65,000 could become the next target, while support near $70,000 is limited apart from the round-number level.

Thompson believes that after deleveraging is complete and markets stabilize, some capital withdrawn from the AI and tech sectors may flow back into the crypto market, and he remains relatively optimistic about Bitcoin’s medium-term outlook.

Source: TechFlow