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Bitcoin Plunges Back Below $30,000

Tue, 06/07/2022 - 05:49
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Alex Dovbnya
Bitcoin has pared recent gains after starting the week on a high note
Bitcoin Plunges Back Below $30,000
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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.      

BREAKING: SEC Investigating Binance's BNB
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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at