Bitcoin added as much as 0.4% since midnight UTC on Friday and was recently just 0.07% higher after slumping to its lowest level since early April the day before.

Thursday’s drop extended a decline that has emerged over the past three weeks after a failed attempt to climb above $83,000. There is now a chance that the rejection will have contributed to a series of lower highs dating back to October — a key characteristic of a bear market.

Ether ($ETH) tracked bitcoin. It fell to $1,965 on Thursday before staging a recovery back above $2,000.

U.S stocks continued to outperform the crypto market on Friday, with S&P 500 and Nasdaq 100 index futures both posting 0.15% gains as the equity gauges approached fresh record highs.

There is no…