BITCOIN dropped further below US$60,000 to its lowest level in about three weeks amid a broader decline in cryptocurrencies, as concerns about U.S. taxation and China’s continued crackdown swirled. The largest cryptocurrency was down about 2.5 percent to US$59,000 yesterday morning in Hong Kong yesterday, retreating for a fourth straight day. Ether fell 3.4 percent to US$4,110 to its lowest level since Oct. 28. The top tokens were all nursing declines of at least 10 percent over the past seven days. “This minor pullback creates an attractive risk/reward to buy dips for a push higher in the weeks to come,” according to a Fundstrat technical strategy report Tuesday. “Downside targets should materialize this week,” with support for Bitcoin coming at key levels of US$59,862 or US$57,371, the report said. The crypto complex has performed well this year overall, but concerns about tax provisions in U.S. infrastructure legislation and a continued crackdown by China helped sap momentum from what had been a strong run during the past couple of months. (SD-Agencies) | 