The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Bitcoin continued to fall, falling back below $30,000 on Tuesday, almost offsetting all the gains so far in 2021, and everything seemed to have returned to the origin of the bull market. The good news is that although Bitcoin has been cut in half from its April high, there is also strong support below, which is still expected to promote the next wave of rebound.

According to CoinMarketCap data, Bitcoin fell 3.40% on Tuesday, hitting a low of nearly $29,300. Bitcoin's setback dragged down the overall cryptocurrency market, with Ethereum falling more than 1.80%, almost losing $1,700; Binance Coin (BNB) fell more than 5.74%, falling to $250; Ripple (XRP) fell more than 5.13%, reporting around $0.5.

The plunge may have been caused by the sharp drop in U.S. stocks on Monday, with the Dow Jones Industrial Average experiencing its largest single-day drop since October last year. In addition, according to Forbes magazine, the Attorney General of New Jersey issued a cease and desist order to the lending platform BlockFi yesterday, requiring the company to stop providing interest-bearing account services, and then obtained confirmation from BlockFi's CEO.

According to CNBC, Amber Group partner Annabelle Huang said: "There has been a widespread sell-off in global markets, and risk assets are falling across the board. People are worried about the strength and quality of the economic recovery, and overall risk assets, including high-yield assets, have weakened. Coupled with the recent weakness in Bitcoin, this will only cause the cryptocurrency market to fall further."

Back to the origin

Falling below $30,000 means that Bitcoin has basically lost all its gains since the beginning of the year, which is equivalent to returning to the starting point of the bull market.

However, there are still different opinions on whether Bitcoin will be unable to recover from this.

Material
Scientist is optimistic about the trend of Bitcoin. He pointed out on Twitter on Tuesday that Bitcoin has seen the greatest demand ever at its current level, and the strong support below means that unless there is a bigger FUD (Fear, Uncertainty, Doubt), the possibility of a re-rise is still very high.

However, for investors, Bitcoin's continued decline does not seem to be a completely unimaginable nightmare. Famous trader Cred (@CryptoCred) said on Monday (19) that if Bitcoin falls below $30,000 and continues to sink, it may fall back to $20,000 or even $14,000.

Luno's business development director Vijay
Ayyar said that falling below $30,000 may be very important for Bitcoin, and there is a chance to test the $22,000-24,000 level. He believes that Bitcoin will hover between $20,000 and $40,000 for a while before there is hope for a bullish rally.

Kinetic Capital's Chu said: "The trend shown by the cryptocurrency market in the first quarter has stagnated and may reverse below $25,000."