Bitcoin failed at $43,000 yesterday, and the subsequent rejection pushed the asset hard south to a 12-day low of under $41,400.

Most larger-cap alts have also retraced on a daily scale, with SOL and AVAX losing the most (around 6% each).

BTC Stopped at $43K

Ever since last weekend, when BTC failed to decisively overcome $44,000, the asset has struggled to maintain its momentum. It started losing value at the start of the business week, which resulted in a price drop to $41,600 on Tuesday.

The bulls came out of hiding at this point and propelled an impressive leg up that pushed the asset to just under $44,000 a day later. However, this move was short-lived, and BTC quickly retraced by over a grand.

Friday saw another push that brought bitcoin to just over $43,000. Yet, the scenario repeated, and the bears drove the cryptocurrency down to $41,300 for the first time since December 18. As of now, BTC trades a few hundred dollars above that level, but its market cap has slipped to $815 billion.