Bitcoin rebound fizzles out

Earlier today Bitcoin tried and failed to reclaim levels above 40k. That stalling in the price action was noted in an update here as the price was slipping back closer to 39k. Well, that drop has now extended to underneath 38k in recent trade. The move lower has come as Ether also gives back some of its earlier gains that saw it climb to as high as $2771. That is now slipped to below $2600 a few moments ago, but it is trying to rebound right now. The low on Ether has been set at 2,576. It is just now trading at 2,606. Meanwhile, over in the BTC camp, the failure to reclaim 40k and subsequent drop back below 38k does open the prospect that the current sell off could extend beyond the low point reached yesterday. That was set at 37,523. Bitcoin is just now trading at 37,975