The Bitcoin market is today a theater of severe psychological and technical pressure. At the time of writing, Bitcoin is hovering under $77,000, marking a 2.2% fall in the last 24 hours. This stagnation follows a horrific weekend that saw the leading cryptocurrency drop to ten-month lows, spurred by the choice of former Federal Reserve Governor Kevin Warsh to run the central bank, a move perceived by markets as a tilt toward hawkish fiscal constraint. {chart} As Bitcoin plummeted to a Sunday low of $75,892, it temporarily breached a vital psychological floor: the average cost basis of MicroStrategy. With more than ... (full story)