Bitcoin dips below $30,000 as selloff continues

The largest digital coin fell 3.6 percent to $29,667 Tuesday in New York with other digital currencies also retreating.

A selloff in Bitcoin accelerated Tuesday, pushing it below $30,000 for the first time in about a month. The largest digital coin fell 3.6% to $29,667 as of 7 a.m. in New York. Other virtual currencies also retreated, including second-ranked Ether. The Bloomberg Galaxy Crypto Index was down about 4%. Some traders had viewed $30,000 as a key support that might open the way to more losses if breached. Further big declines from here could rattle the cryptocurrency market and even exacerbate a wider flight from risk assets such as stocks. Global equities are falling due to fears of slowing economic growth and the relentless spread of the delta variant of COVID-19.