Bitcoin prices fell below $10,000 Thursday as a bear market reversed growth which saw BTC/USD achieve weekly highs of $11,675 March 5.
Price data from Coinmarketcap shows Bitcoin losing around $400 in three hours to hit $9658, recovering slightly to trade around $9900 at press time.
The behavior continues what has become a pattern for BTC/USD over the past month, with upticks towards $12,000 encountering resistance before diving below $10,000, then repeating the cycle.
As Cointelegraph reported previously, several analysts have warned that closing above $12,400 will be a decisive event for traders, but this will be difficult to achieve.
Read more: CoinTelegraph