Bitcoin Plunges Back Below $30,000

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Alex Dovbnya

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Bitcoin has pared recent gains after starting the week on a high note

After breaking its longest bearish streaks to date, Bitcoin, the world’s largest cryptocurrency, is on the ropes once again.

Earlier today, the crypto king plummeted to $29,184, fully erasing this week’s gains.

At press time, Bitcoin is changing hands at $29,429 on the Bitstamp exchange.

Roughly $143.08 million worth of cryptocurrencies has been liquidated over the past 24 hours, according to data provided by CoinGlass. Long positions account for more than 84% of the wipeout.      

BNB is the top laggard within the top 10, plunging by almost 10% after Bloomberg reported that the U.S. Securities and Exchange Commission had launched an investigation into the top exchange token.

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U.S. stock index futures are in the red after major market indices posted mild gains on Monday.

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