Bitcoin has collapsed through the $6,000 USD for the second time this week, and is under pressure in morning trade.
The world’s biggest cryptocurrency dipped overnight, before selling momentum increased shortly before 8 a.m. AEST this morning.
A short time ago, prices were still declining and had fallen below $5,900 USD.
Bitcoin is currently holding just above weekly lows, after prices bottomed out beneath $US5,800 on Sunday before some buyers stepped in.
The $6,000 USD mark has been highlighted by traders as a key level of technical support. Some analysts have suggested that a sustained break below that figure could see prices fall towards $3,000 USD.
As is often the case, falls in bitcoin have extended across the sector with most major alt-coins in the red this morning:
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