1/27, 3:39 PM (Source: TeleTrader)
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Bitcoin drops over 8%, trades below $30,000

The price of Bitcoin plunged over 8% to below $30,000 on Wednesday after Bitcoin miners started selling a large amount of cryptocurrency and investors are still waiting for a report on how the new Biden Administration will view Bitcoin and other cryptocurrencies.

Bitcoin has been in a $30,000-$35,000 range for almost a week but it seems some market participants sold off their positions.

Bitcoin was down 8.49% to $29,663.29 at 9:38 am ET.

Breaking the News / TF