The $9,000 to $10,000 price range has been a difficult one for bitcoin to break below since first topping $10,000 in late November.
Bitcoin dropped Thursday to trade below $9,000, a critical level of support that many analysts are watching. The decline followed reports that raised worries about increased regulation in India and potential price manipulation at a major exchange.
The drop came after comments from India's minister of finance, Arun Jaitley, that raised concerns about increased regulation on cryptocurrencies in the country