Wednesday, May 11, 2022

Bitcoin spectacularly crashes amid crypto meltdown

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Bitcoin has crashed through $30,000, a price considered a milestone in the cryptocurrency’s crash.

It traded between $29,200 and $29,500, fluctuating wildly amid broader volatility in digital currencies and tech stocks.

It bounced back above $30,000 shortly thereafter, continuing the trend of hovering around this milestone price for the past few days.

:: Read our live coverage of the cryptocurrency market here. ::

That means bitcoin is now down nearly 9 percent over the past day and about 23 percent over the past week.

That equates to much of the rest of the cryptocurrency market. For example, Ethereum is down 22 percent in the last week, and the market as a whole is down nearly 13 percent in the past 24 hours.

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