The world’s most valuable cryptocurrency, Bitcoin ( BTC-USD ) fell by ~4.5% to below the $30K mark on Wednesday morning. The top crypto posted a weekly gain last week after data showed that inflation was starting to cool, while ether ( ETH-USD ) rallied after its network's successful Shanghai upgrade. Riot Platforms ( RIOT ) and Marathon Digital Holdings ( MARA ) led the crypto stocks down today, with bitcoin reporting its largest fall in over a month. Ethereum ( ETH-USD ) dropped by about 6% to below $2K. The crypto stocks that reported a significant drop are RIOT -7.1% , CleanSpark ( CLSK ) -9.2% , Marathon Digital -4.9% , Hut 8 Mining ( HUT ) -6.1% , MicroStrategy ( MSTR ) -3.9% , Hive Blockchain ( HIVE ) -5.7% , Cipher Mining ( CIFR ) -8% , and Coinbase Global ( COIN ) -2.3% . The market capitalization of all cryptocurrencies also dropped by a similar pace, by ~3.9% in the last 24 hours to $1.28T, an analysis by CoinGecko showed . The regulatory crackdown on the cryptocurrency sector, the latest target being the biggest cryptocurrency exchange - Binance, has acted as the biggest catalyst to the recent fall. More on Crypto Clampdown : Bitcoin Surges 81% YTD: Is The Rally For Real Or Just FOMO? ; Ethereum: Sell The Rumor, Buy The Shanghai ; Bitcoin: Highway To The Danger Zone
