After dropping below $40,000 earlier this weekend, bitcoin has been unable to reclaim that level despite a few attempts.
After the Monday crash, bitcoin went on the offensive and added several thousand dollars in about a few days.
However, this is where the bears stepped up and didn’t allow any further price jumps.
In fact, the price drop was quite sudden, and the asset found itself trading below $40,000 hours later, as reported yesterday.
It tried recovering a lot of ground but was stopped in its tracks at $40,000.
Ethereum, for example, went from a ten-day high of its own at $3,200 to below $3,000 in a few days.