Bitcoin Breaks Below 70,000 Dollars On Bitstamp As Fear Grips Crypto And Metals
Bitcoin fell below 70,000 dollars on Bitstamp, hitting about 69,100 dollars in one of the cycle’s weakest moments, with sentiment gauges sliding into “extreme fear” as the broader market continued a downtrend from the October peak near 126,000 dollars. The selloff was heavier on Bitstamp than on other venues like Coinbase, suggesting concentrated selling there, while gold and silver also dropped sharply even as U.S. equity futures ticked slightly higher, showing that the stress is focused on crypto and metals rather than all risk assets. Bitcoin exposed stocks such as Strategy, other treasury style holders, exchanges and major miners extended their declines, many already far below prior highs. Analysts now warn that price could drift toward the 60,000 dollar area before a durable bottom forms, as the market still looks to be searching for support rather than stabilizing.