Bitcoin Plunges Back Below $30,000

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.

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