Bitcoin briefly dropped below its 50-day moving average, sliding back further into the range in which it has traded this year.
Bitcoin has been in a trading range of around $35,000 to $45,000 for much of the year so far.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization, also tanked more than 5% to $3,179.
The performance of other digital tokens also declined with Litecoin, Stellar, Cardano, Solana, Polkadot, Polygon, Uniswap prices were trading with cuts over the last 24 hours, and Terra slipped over 9%.
Bitcoin’s tendency to move in sync with assets such as US stocks makes the drop less of a surprise after a tough week for American markets last week.