Bitcoin retreated to a fresh weekly low, dragged down by intensifying anxiety over global oil supplies. The cryptocurrency mirrored bearish sentiment in U.S. equity markets, struggling to find footing as macroeconomic turbulence rattles investors.

Amplifying the bearish outlook, a stark market analysis suggests this slump could be just the beginning. The analyst warns that in a prolonged downturn, Bitcoin faces a potential collapse to the psychologically devastating $10,000 price level.