Support at $7,900 lasted about one-half-hour before the price went southward once more, sitting at $7,800 as of writing.
Beginning at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600.
The price of bitcoin has fallen below $4,000 for the first time since September 26, 2017 and is now down 30 percent in the last 7 days alone.
MV Index Solutions, a subsidiary of investment management firm VanEck, has launched a new index tracking the OTC performance of bitcoin.
Bitcoin has dropped below $7,000, reaching a month-low since Feb. 7 while the cryptocurrency market is seeing a major sell-off.
Each of the top 20 cryptocurrencies by market capitalization hit an all-time price high in the past four days, according to market data.
The price of bitcoin has hit its highest level in the last year, trading at $436 and climbing at press time.
The busiest day for bitcoin exchanges ever was recorded on 26th November, according to data provider Bitcoinity.
The price of bitcoin increased by 12% today, reaching a weekly high of $368.51 at 12:30 (UTC).
Bitcoin's recent price surge caught the attention of mainstream journalists worldwide, with many noting bitcoin's comeback as it surged past $400.