Bitcoin slid by 3.09% on Thursday. Reversing a 0.06% gain from Wednesday, Bitcoin ended the day at $6,989.4.
A mixed start to the day saw Bitcoin fall from an early morning intraday high $7,225.8 to a mid-morning low $7,100.0.
Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $7,170.38 and the second major support level at $7,128.03.
A move back through the support levels by late morning was brief, with Bitcoin sliding to a late afternoon intraday low $6,963.0.
Bitcoin tumbled through the dayâ€™s major support levels to close out the day at sub-$7,000. Bitcoin last closed out the day at sub-$7,000 on 17th December.
The near-term bearish trend, formed at late Juneâ€™s swing hi $13,764.0, remained firmly intact, reaffirmed with Bitcoinâ€™s slide back to sub-$7,000 levels.
For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.
The Rest of the Pack
Across the rest of the top 10 cryptos, it was a bearish day for the majors.
Tezos led the way down, sliding by 9.32% to fall out of the top 10, by market cap.
EOS (-5.37%), Litecoin (-5.23%), Binance Coin (-5.05%), Bitcoin Cash ABC (-4.36%), and Bitcoin Cash SV (-4.18%) also saw heavy losses.
Ethereum (-2.56%), Rippleâ€™s XRP (-2.57%), Stellarâ€™s Lumen (-3.61%), and Tronâ€™s TRX (-2.39%) saw relatively modest losses.
Through the current week, the crypto total market cap hit a Monday high $198.27bn before sliding to a Thursday low $185.26bn. Through Wednesday, the total market cap had peaked at $193.02bn before the reversal. At the time of writing, the total market cap stood at $185.83bn.
Bitcoinâ€™s dominance continued to sit at 68% levels following relatively modest losses on Thursday. Trading volumes had hit $80bn levels on Monday before easing back to sub-$70bn levels. At the time of writing, volumes were at $68bn levels.