Bitcoin nearly grazed $60,000 on Thursday as investors shied away from the asset due to growing concerns over its utility.

Some market watchers have suggested $70,000 is a key level to watch and a break below that could lead bitcoin to decline further.

Bitcoin prices have declined significantly, and some analysts warn of more pain ahead.

World’s most prominent cryptocurrency peaked at $126,000 in October 2025, only to see its value slump steeply

Bitcoin nearly grazed $60,000 on Thursday as investors shied away from the asset due to growing concerns over its utility.