According to Bloomberg, Bitcoin has dropped about 40% from its peak to around $67,000, breaking below the 50-week moving average. Multiple momentum indicators have weakened, and the market is now calculating downside potential based on historical pullbacks and technical levels. 22V Research pointed out that if calculated based on the smallest pullback of 72% in previous cycles, the price could dip to around $35,200, while Tallbacken Capital set a target of $45,000. Galaxy Digital's Head of Research, Alex Thorn, stated that in previous bull markets, Bitcoin typically fell to the 200-week moving average (currently around $58,000) after breaking below the 50-week moving average. Additionally, Bitcoin is now below Strategy Inc.'s average holding cost of approximately $76,000 and also below JPMorgan's estimated mining cost of $87,000. If the price continues to stay below the cost, it could further exacerbate miner exits and market selling pressure. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=56267