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Bitcoin (CRYPTO: BTC) fell below the key $30,000 mark in the early hours of Tuesday as the New Jersey-based privately held lending platform BlockFi became the latest to face regulatory pressures. What Happened: The apex coin traded 6.48% lower at $29,699.02 over 24 hours at press time. BTC is down 10.38% for the week. See Also: The fall in BTC came among a wider decline seen in cryptocurrencies whose collective market capitalization fell 7.04% to $1.2 trillion at press time. On Monday, BlockFi received an order from the New Jersey Bureau of Securities to suspend applications for new interest accounts in the state, as per a tweet from BlockFi CEO Zac Prince, first seen on The Block.

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