Galaxy Digital (GLXY) (OTCPK:BRPHF) research head Alex Thorn lowered his price target for bitcoin (BTC-USD) to $120K from $185K, amid the crypto's multi-week slump that took a breather Wednesday. On Tuesday,

Bitcoin unrealized losses reached nearly one-third of the supply, even before BTC price fell to multimonth lows below $100,000. Bitcoin struggles to recoup losses that sparked multimonth lows under $100,000. Traders hope that whales will push the market higher to neutralize late shorts.

Bitcoin (BTC-USD) extended declines on Tuesday as investor concerns over the government shutdown and slowing economic growth led to a sell-off of the world's largest cryptocurrency. The token declined more than 5% to hover near $101,

Bitcoin (BTC-USD) has tumbled about 20% from a record high that it hit a month ago, pushing the top cryptocurrency into bear market territory following a major wave of liquidations and weakness across risk assets.

Bitcoin (BTC) bears extended the sell-side activity into the European Trading session on Tuesday as the drop to $104,000 resulted in a large liquidation of leveraged positions across the crypto market.