Bitcoin has plunged through $6,000 again and is looking weak

(Photo by Helen H. Richardson/The Denver Post via Getty Images)

Bitcoin has collapsed through the $US6,000 for the second time this week, and is under pressure in morning trade.

The world’s biggest cryptocurrency dipped overnight, before selling momentum increased shortly before 8am AEST this morning.

A short time ago, prices were still declining and had fallen below $US5,900:

Bitcoin is currently holding just above weekly lows, after prices bottomed out beneath $US5,800 on Sunday before some buyers stepped in.

The $US6,000 mark has been highlighted by traders as a key level of technical support. Some analysts have suggested that a sustained break below that figure could see prices fall towards $US3,000.

As is often the case, falls in bitcoin have extended across the sector with most major alt-coins in the red this morning:

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