Bitcoin fell below $6,000 on Tuesday, a decline that brings the price of the world's largest cryptocurrency to within 2 percent of its 2018 low.
Falling prices have sent the total market capitalization of all cryptocurrencies below $200 billion.
Turkey's economic crisis looks to have boosted bitcoin's appeal as a safe-haven asset, pushing it to seven-month highs against the lira.
Bitcoin's corrective rally could gather steam above the key descending trendline hurdle of $6,480.
If you want to get a behind-the-scenes look at your favorite cryptocurrency's price action, the order book will be your best friend.
Bitcoin (BTC) now makes up 50 percent of the entire cryptocurrency market capitalization.
The bitcoin market has turned indecisive in the last 24 hours and today's UTC close is expected to set the tone for the next move in prices.
Wednesday was a tough day for the cryptocurrency market at large, as several data points collected by CoinDesk illustrate.
Cryptocurrency investors continue to turn risk averse as the total cryptocurrency market capitalization sinks to a new annual low.
Bitcoin's price has surrendered more than 70 percent of the rally seen in July, putting the bears in a more commanding position.