The price of Bitcoin (BTC) has slumped below $40,000 for the first time in six weeks.
The slide took place near the close of the day on Tuesday, with BTC prices having drawn down by 16% from nearly $47,300 at the start of the day to tag a local low of $39,650 at roughly 9 pm UTC. The move marked a 25% retracement from BTC’s local highs above $50,000 on Sept. 7.