Bitcoin is heading toward a fifth straight weekly loss, with traders closely watching whether current support levels can hold or give way to another downturn.

After moving sideways through the first half of Wednesday, BTC turned sharply lower during U.S. hours, slipping below $66,000 and revisiting the lower boundary of its recent trading range. The cryptocurrency had earlier climbed to around $68,500 overnight but fell roughly 2.5% over the past 24 hours to trade near $66,200.

Crypto-linked stocks mirrored the reversal. Coinbase erased a 3% morning gain and dropped about 2% by the afternoon. MicroStrategy (MSTR), the largest public corporate holder of bitcoin, declined roughly 3% as weakness in BTC weighed on shares.

U.S. equities also gave up much of their early momentum before the close. Investors reacted to minutes from the January meeting of the Federal Open Market Committee, which carried a more hawkish tone than anticipated. Although officials agreed on keeping rates unchanged, several policymakers favored “two-sided” guidance, leaving open the possibility of rate hikes if inflation remains persistent.

The U.S. dollar extended its advance following the release. The U.S. Dollar Index climbed to its strongest level in nearly two weeks, adding pressure to risk-sensitive assets. A firmer dollar often acts as a headwind for cryptocurrencies, and Wednesday’s pullback aligned with that pattern.

With momentum deteriorating, the $66,000 zone now stands as a critical support level. It previously held last week and helped propel bitcoin back above $70,000. A decisive break below that floor could shift attention toward the early February lows near $60,000 and potentially open the door to a deeper correction.