Bitcoin slips below the $70,000 level on Bitstamp

Bitcoin’s sell-off continued into Asian trading on Thursday, with prices slipping below the widely watched $70,000 level on Bitstamp.

The cryptocurrency fell to a session low of $69,101 on the exchange, trading at a discount to other major venues. On Coinbase, bitcoin’s low over the same period was roughly $70,002.

The disparity points to heavier selling pressure on Bitstamp, the Robinhood-owned platform, relative to peers.

At the broader market level, bitcoin remains in a sustained downtrend. CoinDesk’s global price index shows the asset peaked above $126,000 in early October and has moved steadily lower since.

Some market participants expect the decline to extend further, with the $60,000 region viewed as a potential area for prices to eventually stabilize.

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