The bears rejected Bitcoin's $43,000 rally again, and pushed the coin to $42,000 and lower.
Currently, most altcoins are located deep in the red, with Ethereum approaching $3,000.
The total market capitalization has fallen to less than $1.9 trillion.
Bitcoin drops below 42 thousand dollars:
Just a week ago the biggest cryptocurrency was trying to beat $47,000 but failed on two occasions.
In fact, the direction of Bitcoin changed and the coin started to gradually lose its value and fell to the level of $45,000 the next day.
The bears retained control of the market and pushed it south again.
Initially, the bitcoin price dropped to $44,000 before dropping to $43,000, which became the lowest price point for bitcoin in more than two weeks.
In the next few days, Bitcoin remained stuck between $43,000 and $44,000, but its inability to climb above $44,000 meant more trouble.
This time, Bitcoin dropped to $42,000 yesterday.
Then the coin rebounded and briefly exceeded the $43,000 level, but the bears came back in and led it south again below 42,000, where they are still trading there for the moment.
As such, with this performance, Bitcoin's market cap fell below $800 billion for the first time in nearly three weeks.
Altcoins are colored red:
Altcoins calmed down yesterday after the recent price drops, but the past 24 hours have caused more trouble.
Ethereum is down 5% on the day and is currently just above $3,000.
It is worth noting that Ethereum jumped above $3,500 last week to its highest level in three months.
Most of the other big altcoins were affected by the drop such as:
Binance Coin, Solana, Dogecoin, Shiba Inu and CRO all recorded similar declines.
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