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Bitcoin price crashes below $30000 amid China action

Bitcoin erases 2021 gains as crypto sell-off gathers pace

Bitcoin’s price plunged on Tuesday afternoon to below $30,000 as China continued its regulatory crackdown. The world’s biggest cryptocurrency was down roughly 12%, trading at $29,047 (£20,909). It had started the year at around $29,374, which means it has essentially erased any gains made in 2021.