The price of Bitcoin fell by more than 11% in 24 hours to dip below the $30,000 mark for the first time since July 2021.
It's more than 55% lower than its all-time high of $69,000, set last November.
Other top-10 coins also suffered double-digit-percentage drops, led by Cardano (20%), Solana (16%), XRP (13%), BNB (16%), and Ethereum (10%).
All told, the cryptocurrency market dropped 13% from the previous day. The $1.37 trillion market cap is its lowest this year.
Even some stablecoins are faced with declining prices, as Terra USD lost its 1:1 peg to the U.S. dollar.
