Bitcoin (BTC) falls below $30,000 as cryptocurrency market plunges

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

Bitcoin fell below $30,000 for the first time since Jun. 22 on Monday dragging other digital coins lower.

About $90 billion was wiped off the entire cryptocurrency market in 24 hours as of 11:34 p.m. ET, according to CoinMarketCap data.

Bitcoin was down nearly 6% while ether fell 8% and XRP tanked almost 10%, according to CoinDesk data.

The plunge in bitcoin came after a big sell-off in global stock markets. On Monday, the Dow Jones Industrial Average had its worst day since last October.

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