Bitcoin once again fell below the $60,000 mark, with several major support forces shaken.

Bitcoin falling back below $60,000 has reignited a concern that has largely disappeared from the cryptocurrency market over the past two years: what happens when retail investors lose interest and if the largest buyers in the market are also under pressure. As investors grow increasingly concerned about the financing machinery of Michael Saylor's Strategy Inc., and as individual investors more widely exit - with many turning their attention and funds to AI stocks, Bitcoin fell below a closely watched support level on Wednesday. "The market is going through a complete repricing of MSTR and STRC," said Shiliang Tang, Managing Partner at Monarq Asset Management. MSTR and STRC are the stock codes for Strategy's common and preferred shares, respectively. Data compiled by CoinGlass shows that nearly $800 million worth of long cryptocurrency positions were liquidated in the past 24 hours. Deribit data shows that this drop occurred before the quarterly expiration of about $10 billion worth of Bitcoin options on Friday.