Bitcoin saw a sudden drop to $66,000, affecting other cryptocurrencies like Ethereum, Solana, BNB, and Dogecoin. Solana is currently trading at $184 with a 7% decrease, while Dogecoin fell by 9% to $0.189.

Some long-term investors selling off caused this significant drop, leading to concerns among investors regarding the continuation of the decline. Bitfinex analysts anticipate Bitcoin to consolidate within a specific range in the upcoming weeks due to strategic profit-taking among holders of more than 155 days.

Additionally, FxPro senior analyst Alex Kuptsikevich noted that Bitcoin faced resistance at $71,000, with broader market caution against risky assets contributing to the recent decline. Despite the S&P500 reaching a new high, the Nasdaq100's slight downtrend reflects investors' cautious approach towards assets like Bitcoin. The resistance levels of $69,500 and $68,500 are now of interest in Bitcoin's movement.

Investors are advised to monitor these trends closely, considering the uncertain market conditions.