Watch these next price support levels

Bitcoin (Bitcoin) It fell below $30,000 on Tuesday, as the latest BTC price drop caused the largest cryptocurrency to break below an important “sand line”.

BTC/USD 1-minute candlestick chart (Bitstamp). Source: TradingView

Bitcoin beats May price bottom

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD fell below the support level of $30,000, fell 6% in one hour and reached its lowest level since the end of January.

After falling from $41,000 a week ago, Bitcoin has seen many The rapid downward volatility that broke out in recent days eventually led to a breakthrough of $30,000 on Tuesday.

As Cointelegraph Report, Traders generally expect the price to fall, and some of them have asked for $25,000 or even lower.

The attention of China and related media to its mining cleaning seems to be Main driver Although it is generally believed that the reorganization will actually benefit Bitcoin in the long run, it is still bearish.

“Is it a bad thing to transfer more Bitcoin mining capacity to the West and the West?” David Marcus, Facebook F2 project leader Inquire on Monday.

“IMO China’s crackdown on the mining industry is a major development of BTC.”

Support evaporates above 25,000 USD

At the time of writing, due to severe volatility, the trading price of BTC/USD was approximately US$29,000 and rebounded to US$29,600 on Bitstamp.

According to reports, Binance, the cryptocurrency exchange with the largest trading volume, began to experience technical problem With the unfolding of price movements.

Binance order book data shows that buyers are waiting in line for $25,000, and the event deletes the $30,000 position visible in the latest representation of monitoring resources Material index.

Bitcoin/USD trading position on Binance.Source: Material Index/Twitter