Bitcoin drops about 4%, slips below $30,000 amid crypto selloff

Bitcoin dropped below the closely watched $30,000 level amid a wider retreat in crypto prices as concerns about inflation prompted a bout of caution in global markets.
The largest token fell as much as 4.5% before paring some of the slide to trade at about $29,270 as of 9:31 a.m. in London on Wednesday. Ether shed 5% and smaller tokens like Solana and Avalanche fell around 8%.