Bitcoin Drops Below $69K as Analysts Warn of Deeper Decline

The past few days have been rough for the primary cryptocurrency, whose price once again slipped below $69,000. One popular analyst believes the valuation could now be headed toward $65,000, while many others warn of even deeper declines ahead.

The Worst Has Yet to Come? Bitcoin has tumbled by double digits over the past week and currently trades at around $68,600 (according to CoinGecko), while its market capitalization has fallen under $1.4 trillion. The list of usual suspects includes increased tensions in the Middle East, the Mt. Gox transfers, and Strategy's decision to sell $BTC.

As CryptoPotato reported, the company offloaded 32 units for approximately $2.5 million to support preferred stock distributions. Even though Strategy doesn't appear to have abandoned its $BTC accumulation plan, its recent sale has