FX.co ★ Bitcoin Sinks on Crypto Market Pullback

Bitcoin slipped to around $66,000 on Friday, surrendering most of its recent gains as cryptocurrencies came under renewed selling pressure. The move followed a warning from Standard Chartered about further potential downside for Bitcoin, as well as weaker-than-expected quarterly results from US crypto exchange Coinbase.

The largest cryptocurrency has now fallen more than 45% from its October high above $126,000, and a series of failed rebound attempts points to fading speculative interest. Coinbase reported a fourth-quarter loss of $667 million, with revenue declining more than 20% to $1.8 billion, highlighting how lower token prices have weighed on trading volumes and activity.

Analysts note that while Bitcoin could still stage a recovery, a sustained break below the $60,000–$58,000 range could open the door to steeper losses, potentially toward the high $40,000s. So far this year, Bitcoin is down 23.9%, mirroring broader weakness across the technology sector.