Bitcoin slips below $30,000, the lowest in nearly five months

Bitcoin • June 22, 2021, 9:00AM EDT
UPDATED: June 22, 2021, 9:14AM EDT
The Block

The price of bitcoin has dropped below $30,000 as the bearish sentiment in the crypto market continues.

At the time of writing, bitcoin is trading at around $29,800. The last time when bitcoin went below $30,000 was on January 27, when the cryptocurrency hit a low of $29,367.

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As a result of the price drop, bitcoin's market capitalization has plunged from a recent over $1 trillion to nearly $660 billion, according to tracker CoinGecko.

Meanwhile, ether (ETH), the second-largest cryptocurrency after bitcoin, is trading at around $1,770. ETH was over $4,000 in mid-May.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.