Bitcoin’s price has lost some momentum over the past 24 hours and has retraced back down to around $42,000.

Most altcoins are also in the red, with SOL and ADA dumping by over 5%. ICP, though, has exploded by a massive 40% surge.

BTC Down to $42K

It was precisely a week ago when BTC’s late 2023 run culminated in a price surge to $44,700. This became the asset’s highest price tag in over a year and a half. However, the landscape started to worsen at that point.

Monday was particularly harmful as bitcoin dumped by over three grand in hours and slipped beneath $41,000. On Tuesday, the cryptocurrency slumped even further to a weekly low of $40,200.

The bulls tried to intercept these price drops and pushed BTC north to $43,000 amid the US CPI data and the latest FOMC meeting. The Ledger vulnerabilities delivered more enhanced volatility as BTC dumped and pumped by $1,500 in hours on Thursday.