Bitcoin's price has fallen over 6% recently, dropping from a high of $73,600 on September 29 to an intraday low of $68,777 on November 1 amidst sell-offs and uncertainty around the US elections. Analysts are concerned that if the critical support range of $69,000 to $70,000 is breached, Bitcoin could retest levels around $65,000 before any potential recovery. Bitcoin analyst AlphaBTC indicated that upcoming market events, including the Federal Open Market Committee meeting, might lead to significant volatility. Several experts suggest a potential retest of the all-time high of $69,000, but if that support fails, deeper declines towards $60,000 may occur. The lack of strong bid liquidity below current prices adds to the market's vulnerability. Historically, losing this support zone has resulted in substantial drops, making current levels crucial for Bitcoin's near-term trajectory.

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