The cryptocurrency price fell lower on Friday, with the price of Bitcoin (BTC) dropping to an intraday low of $22,788 on the Bitstamp exchange.
The leading cryptocurrency is in the red again just days after surpassing $25,000 for the first time in nearly two months.
Dogecoin (DOGE) was the biggest loser in the top 10, losing about 9% of its value over the past 24 hours.
Shiba Inu (SHIB), another popular coin, fell more than 10% in the same time period.
Ethereum (ETH) is holding above $1,800, but the leading altcoin has lost momentum before consolidation.
The total cryptocurrency market cap is currently on track to slide below the $1 trillion mark again.
Earlier this month, the cryptocurrency market experienced a much-needed rally due to lower-than-expected inflation figures.
However, the protest was short-lived. Risky assets reversed earlier this week within minutes of the U.S. Federal Reserve meeting in July showing central banks’ determination to continue raising interest rates.