Geopolitical tensions flare up again, with the 70,400 support level tested tonight!

A chart to understand the "Global Energy Lifeline" of the Strait of Hormuz! Iran sets up checkpoints on their side, the U.S. also sets up checkpoints on their side, and one-third of global oil transportation passes through this bridge.
Now Iran has directly announced they will implement a **"Permanent Control Mechanism"**, which is equivalent to negotiating the lifeline of global energy.
Market validation: Bitcoin's intraday high has fallen back, repeatedly declining from 71,400 to 70,566.99, with technical breakdown and fundamental bearish signals perfectly resonating.
Bears dominate, with a weak downward probe.
Although there has been an oversold rebound near 70,893, it is just emotional recovery, not a reversal. The overhead resistance at 71,000-71,200 is significant, and this rebound is an opportunity for bears to add positions.
Focus on the 70,400 support; if it breaks, the downward space opens up. Strict risk control and stop-loss management are essential! $BTC $ETH #美军封锁霍尔木兹海峡