Bitcoin, the largest cryptocurrency in the world, fell below the $30,000 level for the first time in 10 months.
As per CoinGecko, Bitcoin hit $29,996 before jumping back above $31,000.
The cryptocurrency is down more than 55 percent from its all-time highs of $69,000.
The total market cap of cryptocurrencies was down 10 percent to $1.4 trillion; more than halved from its all-time high.
Tightening of monetary policies across the globe is leading to a mass sell-off not just in cryptos but equities as well.
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