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Bitcoin Plunges Below $70k as Markets Enter Fourth Week of Losses

Investing.com •
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Bitcoin fell below $70,000 for the first time since October, closing at $68,409.7 on Monday and extending a four-week losing streak driven by persistent uncertainty over U.S. interest rates. The world's largest cryptocurrency pulled back after briefly touching $70,000 over the weekend, reflecting broader market aversion towards speculative assets. Strategy Inc, the world's largest corporate Bitcoin holder, stated it can withstand a significant price drop to $8,000, though it reported a massive $12.4 billion loss in the latest quarter. The price decline has wiped out roughly half of Bitcoin's value since its October peak, raising questions about the company's ability to meet its debt obligations without liquidating holdings.