Some see that level holding, while others say further declines are likely.
CME's bitcoin futures goes into "backwardation" and BTC inflows to exchanges rise as China "FUD" continues.
China's central bank said major financial institutions must stop providing trading, clearing and settlement for crypto transactions.
Data from services on Bitcoin and Ethereum shows what's real in crypto adoption stories.
"BTC held by ETFs and funds are a significant and measurable sample of network demand," one observer said.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Bitcoin remains relatively resilient, having priced in the Fed's hawkish tilt in advance.
MicroStrategy CEO Michael Saylor said the problem isn't bitcoiners but those negative headlines about mining.
Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
In the wake of the crash, billionaire Mark Cuban is now calling for regulation of stablecoins.
Upside momentum has been weak, which means the corrective phase from May is not yet complete.
"The data show HODLers are buyers here," one research firm noted.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
The Bitcoin network's processing power could rebound if miners relocate to other locales, one analyst predicts.