Bitcoin’s sell-off extended on Thursday, with the price slipping below the closely watched $70,000 level on Bitstamp during Asian trading hours.
BTC fell to a low of $69,101 on the exchange, trading at a noticeable discount to other major venues. On Coinbase, for example, bitcoin bottomed near $70,002 over the same period.
The price gap suggests heavier selling pressure on Bitstamp, which is owned by Robinhood, relative to other platforms.
On a global basis, bitcoin remains in a sustained downtrend. CoinDesk’s global price index shows the cryptocurrency peaked above $126,000 in early October and has declined steadily since.
Some analysts warn the correction may not yet be complete, with downside targets extending toward the $60,000 area, where prices could eventually find a more durable bottom.
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