Bitcoin (BTC) falls below $30,000 as cryptocurrency market plunges

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

The price of bitcoin dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it.

Bitcoin is trading in the $29,000 range, about 3% lower on the day, according to Coin Metrics. Ether is down 1.25% and XRP fell 4%. Even with the plunge bitcoin is up 2.3% for the year, according to CoinDesk data. Ether and XRP are both up about 140% for the year.

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5 things to know before the stock market opens Tuesday, July 6

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stock futures flat after Dow joined records Friday

Traders work on the floor of the New York Stock Exchange.

Brendan McDermid | Reuters

2. U.S. oil prices jump to 6-year highs after OPEC+ breakdown

The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.

Ramzi Boudina | Reuters

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Why Is the Stock Market Down Today? China, Oil in Focus.

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Crude prices hit multiyear highs after OPEC+ talks failed to reach an agreement.

Spencer Platt/Getty Images

Stocks closed down Tuesday as investors digested weaker-than-expected data on the services sector as well as volatile oil prices and China’s regulatory attack on U.S.-listed Chinese companies.


Dow Jones Industrial Average

 fell 209 points, or 0.6% while the

S&P 500

fell 0.2%, and the 

Nasdaq Composite

 gained 0.2%.

Oil prices pulled back from earlier gains after the OPEC+ meeting collapsed without a deal. Oil had been up more than 1% early Tuesday with the price of oil topping $77 a barrel

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Will the Delta Variant Crash the Stock Market? Here’s What the Numbers Say.

The Nasdaq Composite Index rose 1.9% last week.

Jin Lee/Bloomberg

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Like Superman, the

S&P 500

appears unstoppable. Nothing—not the Federal Reserve, not the Delta variant, not even old-fashioned fear and greed—has been able to slow its rise. Of course, it just hasn’t found its Kryptonite yet.

It’s not just that the stock market had a good week: The

Dow Jones Industrial Average

advanced 352.51 points, or 1%, to 34,786.35, while the

Nasdaq Composite

rose 1.9%, to 14639.33, and the S&P 500 gained 1.7%, to 4352.34. All three ended the week at record highs.

For the S&P 500, Friday’s

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Economist Roubini warns of stock market crash and ‘stagflation’

The economist who correctly predicted the 2008 financial collapse is waving a red flag about another imminent disaster.

Nouriel Roubini, an economist at NYU Stern School of Business, writes in The Guardian that “the same loose policies that are feeding asset bubbles will continue to drive consumer price inflation” and that “conditions are right” for a double whammy of the stagnation of the 1970s and the stock market implosion of 2008.

“The warning signs are there for global economy, and central banks will be left in impossible position … today’s extremely loose monetary and fiscal policies, when combined with a

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Michael Burry, Jeremy Grantham, and other top investors are predicting an epic market crash. Here are their gravest warnings so far.

Michael Burry and Jeremy Grantham are bracing for a devastating crash across financial markets. They’re far from the only experts to warn that rampant speculation fueled by government stimulus programs can’t shore up asset prices forever.

The billionaire investors Leon Cooperman, Stanley Druckenmiller, and Jeffrey Gundlach have also sounded the alarm. The same is true for the “Shark Tank” star Kevin O’Leary, the market prophet Gary Shilling, and the “Rich Dad Poor Dad” author Robert Kiyosaki.

Michael Burry
Michael Burry.

Burry in June described the markets as the “greatest speculative bubble of all time in all

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