ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Bitcoin stumbles below $30,000 under weight of China crackdown

'Downward pressure overwhelmed' digital currency's support, trader says

Bitcoin has drawn renewed scrutiny from Chinese monetary authorities, and its volatility has also put it on U.S. lawmakers' radar for regulation.   © Reuters

WASHINGTON -- While Asia slept, regulatory pressures in China continued to bear on bitcoin, dragging the price of the world's most traded cryptocurrency below $30,000 for the first time since January.

Bitcoin's price fell to just above $29,000 on Tuesday morning before stabilizing above $32,000 later in the day.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more