Bitcoin falls towards $30K as global crypto market cap nosedives to $1.41T

Bitcoin (BTC-USD), the world's first-ever cryptocurrency, is plunging towards $30K in Monday afternoon trading as speculators increasingly embrace the sell trigger across risk assets. Looking at its intraday price action, bitcoin (BTC-USD -10.8%) is extending losses from Monday morning, changing hands at $30.8K as of shortly before 3:00 p.m. ET. Ethereum (ETH-USD -11.0%) is also dropping to $2.28K over the past 24 hours. All three major U.S. stock market indices are facing increased volatility and selling pressure as well, with the tech-heavy Nasdaq (COMP.IND) -3.4% off the most. The global crypto market cap is collapsing to $1.41T compared with $3T just six or so months ago, according to data from CoinMarketCap. The risk-off environment across the cryptosphere resembles that of tech and internet stocks during the Dotcom bust in the early 2000s, billionaire entrepreneur Mark Cuban, who is known as an avid supporter of the decentralized space, wrote in a Twitter post. “Crypto