What's next for Bitcoin as the crypto drops under $30,000?

While equities are attempting to pare some of the big losses they saw on Monday, the cryptosphere is still in the gutter, with Bitcoin (BTC-USD) falling below $30,000 for the first time in more than a year. The souring sentiment has also weighed heavily on crypto miner stocks like Riot Blockchain (RIOT) and Marathon Digital (MARA), as well as exchange Coinbase Global (COIN) and Bitcoin leveraged firms like Michael Saylor's MicroStrategy (MSTR). Even TerraUSD (UST-USD), the third largest stablecoin by market cap, lost its peg to the U.S. dollar, dropping to as low as 69 cents and causing a swathe of investors to liquidate their holdings. The skeptics: While crashes have hit Bitcoin (BTC-USD) before, some say enthusiasm among dip buyers - that used to help prices quickly rebound - is fizzling. One of the biggest advantages of crypto was that it was supposed to provide a hedge against inflation,