The current price range, even after the rebound, also provides a challenge for Bitcoin miners. As CoinDesk reports, the current Bitcoin price is well under the average cost of $87,000 to mine a single Bitcoin. The outlet notes that this has traditionally been one of the signs of a bear market.

Some market analysts have suggested bitcoin could fall further, potentially hitting between $40,000 to $50,000.

Analysts hint at historical Bitcoin data.

Strategy, Michael Saylor's iconic bitcoin treasury, has seen its stock plunge and its cost basis for its bitcoin trove soar amid the token's bear market.

Self-proclaimed billionaire Grant Cardone announced he is selling his private jet as bitcoin prices crashed this week. Newsweek reached out to Cardone via email for comment.

Stocks and crypto slid hard as Cramer points a finger at Bitcoin.

Bitcoin is reclaiming its place among the favorite assets of thrill-seeking speculative traders.

The U.S. stock market roared back, as technology stocks recovered much of their losses from earlier in the week and bitcoin halted its plunge, at least for now

Some market watchers have suggested $70,000 is a key level to watch and a break below that could lead bitcoin to decline further.