Scott Mlyn | CNBC
At one point, the digital currency slid below $29,026 — where it had ended 2020 — briefly turning negative for the year. Bitcoin traded at $29,056.70 as of 10:07 a.m. ET.
Tuesday’s move lower was a continuation of recent selling as China expanded its crackdown on crypto mining and urged financial institutions not to provide services to the industry.
Bitcoin has plunged more than 50% from its all-time high in April near $65,000. At the time, it had a market value of more than $1 trillion.