BTC's 76K bottoming process is over, the next target is 68K-70K❗️Do you believe it❓️ CPI exceeded expectations across the board, with the core monthly rate at 0.3% and the overall rate at 0.4%, making a December rate hike virtually certain. Today, BTC price fell to a low of 72.7K before rebounding to below 74K. This rebound is a "dead cat bounce," not a reversal. The slow, steady decline can easily lull people into complacency and catch them off guard. Why do I predict the next target price will fall to 68K-70K? (1) ETFs have seen outflows of 1.177 billion over three weeks, with BlackRock's IBIT accounting for the majority, indicating continued institutional withdrawal. (2) Whales have turned net short on derivatives platforms, the first time in seven months. (3) Spot demand is weak, and short-term holders are still transferring coins to exchanges. (4) The pressure from interest rate hike expectations, US Treasury yields remaining at 5%, the US dollar index at 102, and the unresolved Huang Renxun incident all contribute to the downward pressure. Although oil prices have fallen to around $90, current BTC buying support is weak, leading to a gradual price decline. The price action is characterized by a gradual, oscillating decline, not a sharp, direct drop. The 73.5K level has been repeatedly tested, with buying support appearing each time, only to be followed by further downward movement. This pattern is the most frustrating and dangerous, as it makes bulls believe the bottom has been reached, only to be repeatedly trapped. The 68K-70K range is the core target area for this round of price action. 70K is the dividing line for a deep correction, and 68K is the 200-week moving average, representing a deep value zone for long-term funds. Only when prices reach that level will they truly warrant serious study. Currently, we will neither short nor try to catch the bottom. We will wait for the negative impact of the CPI to be fully digested, for the 73.5K level to be completely breached, and for a support signal at the 68K-70K range.