The cryptocurrency market today witnessed a plunge in the wake of Bitcoin prices falling below $30,000 all over again right after trading above the $31,000 level in the past few sessions.
It is worth noting that the popular digital token has dropped over 35% so far this year, and trading far below the peak of $69,000 it hit in November last year.
The second largest cryptocurrency Ether, the coin linked to the ethereum blockchain also witnessed a drop 4% on Saturday trading at $1,758.84.
Bitcoin has only briefly deviated from the $30,000 level since the collapse of the TerraUSD stablecoin triggered a broad crypto selloff in early May.
Bitcoin had staged a mini-rally to start the week, rising to a three-week high of $32,359 on Tuesday and giving some in the markets hope that it might gain upward momentum.