Data source OnChainFX indicates the world’s largest cryptocurrency by market capitalization has depreciated by 7.18 percent in the last 24 hours. Bitcoin (BTC) is also down 30 percent from the record high of $20,000 set in December.
As per popular definition, BTC is in a bear phase (more than 20 percent drop from the peak).
Further, the price charts suggests that bitcoin could extend its decline amid bearish indicators.
As of writing, bitcoin is at $13,830 levels.