BTC Dipped Below $30K for the First Time Since July 2021, LUNA Plummets 45% (Market Watch)

The bears continued to pressure the crypto market in the past 24 hours and pushed bitcoin below $30,000 for the first time since mid-July. The altcoins are in no better shape, but Terra has lost the most. Following the recent drama, LUNA plummeted by 45% in the past day alone.The gloomy market conditions only intensified in the past 24 hours. Less than a week ago, the primary cryptocurrency challenged $40,000 following the latest FOMC meeting, but to no avail..

In the following several hours, it plummeted by more than $3,000 and fell below $30,000 for the first time since mid-July 2021. This meant that the cryptocurrency had lost $10,000 in about five days.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:Bitcoin reacted relatively well to the latest price drop and bounced to $33,000.

Binance Coin has declined to $325, XRP is at $0.5, and SOL is down to $70. Even more price losses are evident from Dogecoin, Polkadot, Avalanche, Shiba Inu, and NEAR Protocol.with the protocol’s stablecoin UST, LUNA has plunged by 45% in a day alone to $33. With the lower- and mid-cap alts in the red once again, the crypto market cap has seen another $50 billion evaporated. The metric is down to $1.450 trillion, meaning it has lost $350 billion in five days.

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