Bitcoin lost ground for a second straight day on Thursday, dropping to a 10-day low of $28,300 as traders appeared to move away from risky assets.

After rallying since the start of the year, the world’s largest cryptocurrency by market value, bitcoin, appears to be losing ground. Bitcoin closed below the 20-day moving average (DMA) on Wednesday, according to data from TradingView, signaling a sign of weakness. The last time the cryptocurrency traded below the 20-DMA was in mid-March.

A 20-day moving average is a short term view and could allow investors to trigger further selling pressure, according to Laurent Kssis, a crypto trading adviser at CEC Capital.

The drop comes a day after bitcoin saw a large sell order on crypto exchange Binance and an unexpectedly high U.K. March inflation figure of more than 10%.

(by Lyllah Ledesma)