The cryptocurrency has fallen roughly 8% over the past 24 hours, according to Coindesk, and was trading near $33,200 at 4:45 a.m. ET on Tuesday.
Other digital currencies, including ethereum and dogecoin, also fell around 8% or more.
The value of bitcoin has tanked more than 40% over the last month during a torrent of bad news, including a move by one prominent former backer, Tesla ( CEO Elon Musk, to stop accepting the cryptocurrency as payment for cars. There’s also increasing government scrutiny on cryptos in China and elsewhere. )
It’s not clear what is driving the most recent downturn, but there have been a handful of recent developments that may be making investors anxious.
Musk tweeted a meme that appeared to lament the end of his relationship with the cryptocurrency, causing bitcoin’s value to sink on Friday.