Bitcoin Plunges Below $67,000, Ethereum, XRP, Dogecoin Down Up To 5% As Crypto Sell-Off Accelerates

Bitcoin has plunged below $67,000 as uncertainty around Strategy (NASDAQ:MSTR) continues to instill fear in the market.

Notable Developments:

• Jamie Dimon Says Blockchain Will ‘Replace Financial Market Infrastructure’
• Bitcoin Plunges Below $68,000, ETH, XRP Lose Over 2%: What Is Going On With Crypto?
• Tom Lee Says Bitcoin, Ethereum Thesis Is ‘Absolutely Not Broken,’ Sees $2 Million BTC
• Peter Schiff Says Bitcoin Investors ‘Missed Out’ On Stocks As BTC Craters 12% In 1 Week
• ‘I Was Just Scammed!’ Trader Loses $500,000 On Saylor Bitcoin Sale After Polymarket Rules Controversy
• Why Elizabeth Warren And Bernie Sanders Want Crypto Out Of 401K Plans
• MoneyGram Debuts MGUSD Stablecoin For Cross-Border Payments As Stablecoins Move ‘Beyond Pilots’
• Arthur Hayes: My $100,000 Against Yours That SOL Will Not Outperform The Hottest Coin In The Market

Trader Notes:

Technical analyst CryptoCon warned Bitcoin's recent bear flag breakdown could trigger a larger downside move.

According to the analyst the next major support zone sits between $38,000 and $43,000. If that area fails, stronger support emerges near $25,000 to $30,000. The broader halving cycle theory still points toward a final bottom later this year

CryptoCon also cautioned traders against prematurely calling market bottoms during short-term rebounds.

Trader KillaXBT said Bitcoin likely faces another 3-4 months of downside pressure before a durable bottom forms.

Despite the bearish outlook, the trader said he continues accumulating spot Bitcoin at current levels.

KillaXBT also revealed plans to close the remaining 25% of a swing short position originally opened near $77,800 once Bitcoin reaches approximately $65,000.

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