Top Cryptocurrencies across the charts have experienced losses of around 3-5%, shedding most gains attained since the start of the month.
On Tuesday, Bitcoin had the steepest fall in weeks as it fell below the $40,000 mark for the first time since March 16.
At the start of the last weekend, the Nasdaq 100 was below the moving average and it was expected that Bitcoin would shed some of its value in sync with stocks.
The whispers of the Fed tightening monetary policy were heightened over the weekend and most likely led to the dip in prices.
In the last 7 days, Bitcoin has lost over 8%, sending its market cap below $800 billion for the first time in weeks.
Bitcoin was not the hardest hit in the massive price correction that hit the markets this week as altcoins seemingly bore the brunt of the blip.