The adverse price developments continued in the past 24 hours, and bitcoin dropped below $40,000 for the second time this week.
It was just a few days ago when the primary cryptocurrency spiked to almost $43,000, which became its highest price level in over ten days.
However, BTC was violently rejected at its local peak and reversed its trajectory almost immediately.
The landscape worsened in the following hours, and bitcoin slumped below the coveted level and dumped to around $39,000.
Ethereum marked a multi-day high of its own at $3,200 on Wednesday/Thursday but failed to continue upwards.
Ripple, Solana, Terra, Cardano, Avalanche, Dogecoin, and Shiba Inu are also in the red from the larger-cap alts.