The cryptocurrency market remains in "carnage mode," turning into a long horror movie.
Bitcoin, the leading cryptocurrency, has now slipped below the make-it-or-break-it $40,000 level for the first time since Feb. 8, currently trading at $39,576 on the Bitstamp exchange.
The implosion of the flagship coin has expectedly roiled the rest of the market. Ethereum, the second-largest cryptocurrency, is currently down over 12 percent, slipping to $2,941, its lowest level since early May.
The total cryptocurrency market cap is now at $1.7 trillion after peaking at $2.5 trillion on May 12.