Bitcoin and Ethereum snapped three days of gains as the highest UK inflation in 40 years added to ongoing concern over the state of the global economy.
Bitcoin dropped 4.5% to change hands at US$20,154 on Wednesday morning, while the second largest coin by market value fell 6.4% to US$1,082.
Both digital currencies have been flirting with the key support levels of US$20,000 and US$1,000 respectively for over a week.
Wider European indices all opened the session lower as cautious investors took profits after two days of stock market gains.
Bitcoin and Ethereum are around 70% below highs seen in November.
86 of the leading 100 coins were trading in negative territory.
Solana and Polkadot slumped 8.2% and 8.7% lower respectively.
ApeCoin gave up 14%, while THORChain and Stepn both eased 10% lower.
Most notable to buck the trend amongst the top 20 coins were UNUS SED LEO and Shiba Inu, which climbed 8.9% and 15% higher respectively.
Outside the top 50, Waves stole all the headlines, having surged 31% higher as it pushed to break into the most 50 popular coins.