Bitcoin briefly turned positive after tumbling earlier below $30,000 and erasing gains for the year amid growing concern about a broad crypto crackdown from China.
The original cryptocurrency, which dropped below the key round-number level for the first time since January, has lost more than 50% from its mid-April high of almost $65,000. That compares with a gain of about 12% for the S&P 500 since the end of December. The coin started 2021 trading around $29,000 following a fourfold increase in 2020.
