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Four straight days of tumbling prices has seen bitcoin fall to its lowest price since July 2021.
The price crash has coincided with a downturn in the broader financial markets, which has rippled across to other leading cryptocurrencies like Ethereum (ETH) and Solana (SOL).
The overall crypto market is now worth less than $1.5 trillion, down by more than half its all-time high last November.
Analysts appear divided over whether the latest collapse is part of a longer-term bear trend, or just a temporary dip in what has been an exceptionally bumpy year for bitcoin.
Falling below $30,000 on Tuesday morning leaves bitcoin on the precipice of a key support level, which experts say could prove an important testing ground for BTC and its future price trajectory.
You can follow all the latest news, analysis and expert price predictions for bitcoin and the rest of the crypto market right here.