Bitcoin's Price Drops Below $29K Amidst Market Turmoil

Bitcoin and other cryptocurrencies have fallen further away from key levels, including the psychologically important $30,000 level, amid concerns over the global economy and risk sentiment. The zone around $30,000 is viewed as critical because it's where prices stood last June, when the selloff across cryptos accelerated into a brutal bear market. Bitcoin has struggled to consolidate gains or push higher, despite spiking as high as around $31,000.