Bitcoin Price Crashes Below $30K As Markets Show Signs Of Paranoia

Bitcoin has lost almost 10% of its value during the past 24 hours, falling below $30,000 for the first time since July 2021. And one analyst worries that the largest cryptocurrency might fall even worse. BTC’s Tuesday decline is more than 55 percent lower than its November 2017 all-time high of $69,000. Year-to-date, Bitcoin prices have decreased by 34%. Year-to-date, Bitcoin prices have decreased by 34%. The world’s most sought-after crypto asset plunged to $29,870.30 around 8 p.m. EST, TradingView data shows. Suggested Reading | Shiba Inu: Biggest Dollar Holding Among Wealthiest Ethereum Whales Bitcoin Drop Correlated To Stocks Traditional financial markets and cryptocurrencies both saw a sell-off as a result of the Federal Reserve’s aggressive monetary tightening and recession fears. The last time the largest cryptocurrency by market value dipped below the $30,000 level was on July 20, 2021, when it reached $29,301 before rebounding. As institutions have joined the Bitcoin and cryptocurrency markets over the past year, their correlation with stock prices has grown. Consequently, Wall Street is having a difficult day as tech stocks continue to experience significant selloffs. The Nasdaq index decreased by 4.3%. BTC total market cap at $594 billion on the daily chart | Source: TradingView.com Analyst Sees BTC Dropping Lower Bitcoin could “perhaps receive a mini-bounce near $35,000, but unless we br...