The Currency analytics
By Maheen Hernandez
Bitcoin dropped hard Tuesday. The world's biggest cryptocurrency fell below $66,000 for the first time in weeks, hitting an intraday low of $65,312 during early trading sessions.
The selloff marked Bitcoin's second straight day of losses, and traders are getting pretty nervous about where prices head next.
Standard Chartered issued a report on February 11 warning about Bitcoin's slide. "We're seeing technical indicators that suggest more selling pressure ahead if Bitcoin can't hold…
Mike Novogratz, the Galaxy Digital CEO who's been bullish on Bitcoin for years, tried to calm nerves during a Tuesday interview.
Ethereum fell alongside Bitcoin, down about 4% as risk-off sentiment spread across crypto markets.
JP Morgan's strategists jumped in with their own take on February 12. They said institutional demand has cooled recently, but any major price drop could bring big buyers back to…
Regulatory worries keep hanging over the market too. Global regulators have been making noise about tighter crypto oversight, and that uncertainty weighs on prices.
Binance moved fast to protect its users. The exchange announced new risk management rules on February 13, including higher margin requirements and tighter stop-loss settings.
Retail interest hasn't disappeared despite the volatility. Robinhood reported more account openings as individual investors try to time the market.
And institutions? Grayscale said it won't change its Bitcoin strategy despite the recent selloff.
Coinbase saw trading activity surge as Bitcoin bounced around. The exchange reported a big jump in user activity on February 11, with both retail and institutional clients making…
Goldman Sachs analysts are watching Bitcoin's 200-day moving average closely. Their February 12 report called it a "critical support level" that could determine where Bitcoin…
But the selling pressure feels real. Crypto Twitter is full of bears calling for lower prices, and momentum traders are probably adding to short positions.
Nobody's sure what comes next. Bitcoin's notorious for surprise moves in both directions, and catching the exact bottom is basically impossible.
Market makers are keeping spreads tight despite the volatility, which means liquidity is still decent. But if panic selling kicks in, that could change quickly.