After mounting a modest recovery in the wake of rumored regulatory scrutiny, the price of bitcoin is back below $4,000.

The average price of bitcoin across global exchanges fell below $4,000 at roughly 3:15 UTC today, hitting a low not observed since September 10. The movement followed a period in which the bitcoin price repeatedly tested $4,000, but succeeded in staying above the barrier.

All in all, the move comes during an uncertain time for the cryptocurrency market, which has seen a period of sideways trading following a torrid first half in 2017.

With the recent decline, the price of bitcoin is up just 1.7 percent over the last month, though it has still appreciated nearly 300% this year. Likewise, the broader cryptocurrency markets have seen similar activity, rising 3.4% over the last 30 days, but declining more than 17 percent from its highest point during the period, according to CoinMarketCap.

As for the current sentiment, continued rumors that China could move to close domestic order-book exchanges have no doubt concerned more casual investors (while providing opportunities for profit-taking from long-term bulls).

Fanning the flames have been statements from notable community figures that appear to attest to the accuracy of the claims, though details on the primary sources for that information have not been forthcoming.

China-based exchanges continue to operate normally at press time, indicating they have yet to be notified of any operational changes.

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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.