Cryptocurrency market takes a $40B hit as bitcoin drops below $30K

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While the Dow took a hit, so did the cryptocurrency market. The crypto market was reported to have lost $40 billion in the past 24 hours as bitcoin slumped below $30,000 per coin again, pressuring the price of other cryptos as well.

According to data from Coinbase, Bitcoin fell more than 3% on Tuesday and was last seen trading at about $29,700 per coin.

Ether was down about 2% to $1,790 per coin, according to Coinbase, while binance coin and Cardano were both down 6% and 5%, respectively.

As of Tuesday afternoon, the value of the total crypto market dropped by about 3% in just 24 hours, according to data from CoinMarketCap.