Crypto crash: $40B wipeout

About $40 billion has been wiped off the cryptocurrency market in the past 24 hours as Bitcoin slumped below $30,000 per coin again, pressuring the price of other cryptos as well.

Bitcoin fell more than 3 percent Tuesday and was last seen trading at about $29,500 per coin, according to data from Coinbase.

It’s the first time the price of Bitcoin has fallen below $30,000 per coin since about a month ago. Some investors view that price as a key support level for the digital coin.