After a brief foray above $30K, bitcoin (BTC-USD) drops to below that key level as cryptocurrency appears to have adopted the pattern of following the stock markets. Futures for the three major U.S. stock averages are all in the red Tuesday before the open. Risks of inflation, central bank tightening, and increased scrutiny on crypto from legislative and regulatory bodies are all factors that may keep a lid on crypto gains. "Central banks globally are now set to reduce liquidity by $3T over the next 18 months, capping upside for digital assets until quantitative tightening and recession risks are fully discounted," wrote BofA Securities Alkesh Shah in a note to clients. In Tuesday morning trading, bitcoin (BTC-USD) falls 6.1% to $29.5K, ethereum (ETH-USD) drops 8.2% to $1.75K, cardano (ADA-USD) -6.7%, solana (SOL-USD) -13%. Binance coin (BNB-USD) drops 10% after Binance's 2017 initial coin offering comes under SEC scrutiny The weakness in crypto is pulling down MicroStrategy (NASDAQ:MSTR)
