The world’s largest and most popular cryptocurrency was trading nearly 3% lower at $40,187.
A brief breakout to touch the 200-day moving average in late March was followed by a drop of as much as 19%, as concerns about monetary tightening triggered declines across risk assets.
Other cryptocurrencies were mixed as Avalanche, Cardano, Solana, Terra, Polkadot plummeted whereas XRP, Stellar Uniswap were trading with gains in the range of 2-6% over the last 24 hours.
Smaller, lesser-known tokens are outperforming Bitcoin in another ‘altcoin season’ as the world’s largest digital asset has seen its dominance wane in recent weeks.