The spot BTC/USD rate dropped 1.71% to a new week-to-date low of $43,955. The pair's plunge appeared as a part of a technical correction that started after it reached a three-month high of $48,176 on Aug 14, following a 64.42% price rally. 

Bitcoin's latest price decline also surfaced in line with a similar market bias on Wall Street. For instance, the benchmark S&P 500 index lost 47.81 points, or 1.1%, to 4400.27 at Wednesday's final hours of trading.

Similarly, the Dow Jones and the Nasdaq Composite also plunged 1.1% and 0.9%, respectively. In addition, CNBC's pre-market data revealed that the futures tied to Wall Street indexes dropped on Thursday, hinting that the markets will likely continue their declines after the New York opening bell later today.