Nancy Guthrie, Bitcoin
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4don MSN
Bitcoin drops 15%, briefly breaking below $61,000 as sell-off intensifies, doubts about crypto grow
Some market watchers have suggested $70,000 is a key level to watch and a break below that could lead bitcoin to decline further.
Polymarket called Bitcoin's crash before it happened and now gives 71% odds of an $85K recovery. Here's what the markets see next for BTC.
Bitcoin was trading on either side of $70,000 on Monday following a roller-coaster ride at the end of last week.
A pair of bitcoin-linked firms could see their shares skyrocket, even as the flagship crypto retreats, due to their pivot to the data center business.
“$50,000 bitcoin is first target support toward $10,000," Bloomberg Intelligence strategist Mike McGlone wrote in a LinkedIn post, going on to warn that 2026 could be “be reminiscent” of the 2008 global financial crisis and the 2000-1 dot com crash for markets across the board.
The price of bitcoin fell more than 10% on Thursday.
Bitcoin is down more than 40% from the highs it reached last year.
Bitcoin is acting weird. The world’s most famous cryptocurrency has tumbled 44% from its October peak, falling below $70,000 Thursday for the first time in 15 months.
Bitcoin nearly grazed $60,000 on Thursday as investors shied away from the asset due to growing concerns over its utility.