Bitcoin takes a further hit as it drops below 30k

It was noted here a couple of times earlier today that Bitcoin was under pressure. In the previous headline on the lead cryptocurrency, it was noted that the odds of it falling below 30k today were increasing by the minute. Well, that is exactly what has happened. As the EUR/USD dropped sharply through 1.21, Bitcoin capitulated too, falling below 30k. It was not helped by losses elsewhere in the space either, although it is obvious that Bitcoin was leading the way lower. The further rebound in the US dollar did it no favours either and the worsening risk tone to the equity markets helped to deliver the move too. It is worth noting that Bitcoin is the ultimate risk position so it is hardly surprising to see it fall further today. The low point reached so far has been at approximately 29, 200. It has now rebounded from that low and is currently trading around 29,700