Bitcoin price movement is hovering around short-term support targets following a drop from its highest levels in a week.
BTC loses out on a daily close that is "very positive."
BTC/USD fell from a high of $43,337 to a low of $41,779 on Bitstamp before rebounding, according to data from Cointelegraph Markets Pro and TradingView.
The pair was trading at roughly $42,300 at the time of writing, still $1,000 off the highs.
On Tuesday, excitement was palpable, courtesy to increased coverage of Blockchain technology Terra's rumored $3 billion BTC investment.
The majority of the cash needed to underpin Terra's new TerraUSD (UST) stablecoin have not yet been acquired, according to co-founder Do Kwon, leaving opportunity for additional possible BTC price squeezes.
A new balance sheet record has been set by the European Central Bank.
On the macro front, news that Thailand had chosen to restrict cryptocurrency payments sparked a negative reaction in Asia, while the European Central Bank's (ECB) balance sheet reached fresh highs in Europe.
Support for $43K BTC flipping? According to derivative metrics, not anytime soon.
With the ECB's asset purchases already exceeding €8.7 trillion ($9.59 trillion), market commentator Holger Zschaepitz began to wonder if "the sky's the limit" for asset purchases.
"Is the sky the only limit? The ECB's balance sheet has reached a new high of €8.7 trillion. Despite record-high bond prices, the ECB continues to acquire bonds, increasing total assets by another €13 billion "He recounted Wednesday's events with the help of a Bloomberg Terminal graphic.