Bitcoin Stays Weak on Oil Woes as Analyst Queries Return to $10,000
Cointelegraph
Bitcoin prices dropped amid rising oil supply concerns, with analysts warning of a potential return to the $10,000 level.Summary
Bitcoin faced downward pressure, dipping below $66,000 as global markets reacted to oil supply fears and geopolitical instability. Bloomberg Intelligence strategist Mike McGlone suggested that Bitcoin could potentially revert to $10,000, a level it held prior to the 2020-21 market surge. The volatility was exacerbated by a sharp rise in oil prices and disappointing market reactions to recent political addresses, leading to significant crypto liquidations exceeding $400 million.
(Source：Cointelegraph)