Bitcoin: Traders Bet on Sub-$70K Drop by May End

Bitcoin traders are ramping up short bets on a drop below $70K by end of May amid fresh options flow data and positioning shifts.

BTC price prediction models now factor the current $72899.98 level where the 4h chart displays a bearish trend with price below EMA50 at $76090.5 and EMA200 at $77038.88 while MACD registers a death cross at -976.1; the oversold RSI(14) at 24.33 inside Bollinger bands points to exhaustion near lower support at $72329.78 before any test of historical $70K reactions from the past year.