Illustrative image of two commemorative bitcoins with a green background.
Artur Widak | Nurphoto | Getty Images
Bitcoin briefly fell below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets.
The world’s largest cryptocurrency fell around 10% in the past 24 hours, while ethereum tumbled more than 6% over the same period, according to Coinbase data.
Bitcoin was last trading at $22,594.50 at 2.53 a.m. ET.
“Everything is on fire right now, be it the equities, be it the crypto assets or anything,” said Nirmal Ranga, head of trading and technical analysis at crypto exchange ZebPay.
“What you’re seeing in the market is … fear, uncertainty and doubt. Technically, markets look oversold and there has to be some floor that we’re going to hit in bitcoin in the coming future,” he told CNBC’s “Street Signs Asia.”
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