JUST IN: Bitcoin extended its losses to the $66,200 range amid a global risk averse environment, while an old bearish thesis resurfaced, pointing to an eventual drop towards $10,000.

The pullback reopened the debate between those who attribute the movement to geopolitical escalation and those who see it, rather, as a well known cyclical pattern in the market.
Bitcoin fell nearly 3% in 24 hours and broke through a technical support level around $66,900.