Bitcoin has slipped below the $60,000 threshold, marking a significant psychological break in the crypto market.
The asset has now lost more than half of its value from the peak of over $126,000 reached last year, according to market data cited by La República.
The sharp decline has triggered a wave of caution among long-term crypto investors.
With selling pressure intensifying, market participants are increasingly divided on the outlook.
Some view the current panic as a potential entry point, while others fear it may be a precursor to further losses.
The move underscores the volatility inherent in the digital asset class.