Bitcoin has dropped below the $64k level, losing over 2% of its value in the last 48 hours as bearish sentiment returns. The decline is attributed to increasing regulatory scrutiny and market uncertainty, which have dampened investor confidence. Analysts warn that the market could face further downturns if regulatory pressures intensify. This recent dip highlights the volatility and risks inherent in the cryptocurrency market, raising concerns about its long-term stability and viability. Investors are advised to exercise caution as the market navigates these turbulent times.