The global crypto market’s value dropped about 4% in the past 24 hours to $1.9 trillion, according to pricing from CoinGecko.
Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency also declining over 4%, declining to as low as $2,902.
Bitcoin has been struggling along with risk assets in recent months.
Analysis from data provider Glassnode suggests that interest in Bitcoin has remained muted, with little growth in the coin’s user base and minimal flows of new demand.