Bitcoin drops 6.9% to below $30,000

It was down 38.9% from the year's high of $48,234 on March 28.Ether, the coin linked to the ethereum blockchain network, dropped 7.52% to $1,794.68

By Reuters | Jun 02, 2022, 08.01 AM IST

The market turmoil of recent weeks has hushed talk earlier in 2022 that bitcoin and other crypto would win mainstream acceptance and be ushered into pension plans.

Bitcoin, the world's biggest and best-known cryptocurrency, dropped 6.9% to $29,555.35 at 22:03 GMT on Wednesday, losing $2,262.81 from its previous closing price.

It was down 38.9% from the year's high of $48,234 on March 28.

Ether, the coin linked to the ethereum blockchain network, dropped 7.52% to $1,794.68, losing $145.87 from its previous close.

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