Bitcoin tumbled below $30,000 on Tuesday for the first time in a month as growing fears of fast-spreading Covid-19 Delta variant pounds global stocks significantly on Monday, according to a report by Markets Insider on Tuesday.
- As of 3.25a.m ET, the cryptocurrency was last trading at $29,770, down 55% from the record high of $64,870 on April 14.
- Ether dropped 7% to $1,761, XRP dropped 9% to 55 cents, dogecoin fell 7% to 16 cents, and cardano fell 9% to 1.07.
- The wider market sell-off led to a decline of $98 billion in the value of the overall entire cryptocurrency market.
- Susannah Streeter, a senior investment and markets analyst Hargreaves Lansdown stated that Bitcoin is not immune to market volatility. Investors moved away from crypto wallets after the stocks slumped.
On Monday, the global stock markets were in disarray over the rising global COVID-19 cases. The Dow Jones Index slipped 2.1% in its worst day since October.
BTC USD slips -3.65%, ETH USD down 3.40%