Hilbert CIO: BTC Could Drop Below $71,900 or Test $65,000

On Nov 10, Hilbert Group disclosed Chief Investment Officer Russell Thompson's Nov 9 trading outlook, which noted that funding pressures 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 remains bearish, with around $71,900 serving as a key trendline support level; a breakdown below this level could see $65,000 as the next target, while support near $70,000 is limited apart from the integer round number.

Thompson anticipates that after deleveraging ends and markets stabilize, some capital withdrawn from the AI and technology sectors may return to the crypto market, maintaining a relatively optimistic outlook on Bitcoin’s medium-term prospects.