On Wednesday, Bitcoin fell to around $29,011.10,

its lowest level since June 2021.

It currently trades at around $29,500 and has a market cap of around $597.7 billion.

This figure comes after higher-than-expected inflation data

cryptocurrency market has been engulfed in bloody battles

as market leader Bitcoin hit its lowest level since June.

The dominant currency slid just above the $29,000 mark,

and peers followed.