The Bitcoin price has continued its multi-week correction, dipping below critical psychological and technical levels as traders weigh economic pressures.
Technical indicators turn bearish on daily charts as Bitcoin loses key support; analysts warn of potential slide to $53,000 or lower if $57,800 weekly close fails.
Bitcoin’s massive slide from its October high near $126,000 to about $67,000 has sparked debate over whether fears of quantum computing pose a real threat to the network’s cryptography or whether the downturn is better explained by shifting capital flows.