Bitcoin has dipped to its lowest price since July 2021 following four straight days of tumbling prices.
The cryptocurrency has fallen to around $32,500 after reaching highs of almost $70,000 in November 2021.
The price crash coincides with a downturn in the broader financial markets, which has rippled across to other leading cryptocurrencies like Ethereum (ETH) and Solana (SOL).
Falling below $33,000 on Monday leaves bitcoin just 10 per cent away from the critical $30,000 support level, which experts say could prove a key testing ground for BTC and its future price trajectory.
According to an analysis from CoinsKid, a technical analysis expert, there could still be a little way to go before Bitcoin ‘bottoms out’.
He puts the floor at $30,636 before a rebound.
Posted two months ago, this video predicted the current slump and shows what could be next to come for the ‘digital gold’ coin:
Related: Five reasons why Bitcoin could be stuck in a temporary rut