Bitcoin dips but recovers back above US$30,000

Bitcoin dipped under US$30,000 in early Asia trade before recovering.

Bitcoin lost 0.55% over the last 24 hours to US$30,160.39 as of 06:40 a.m. in Hong Kong, falling 0.62% for the week, according to data from CryptoMarketCap. The token dipped to US$29,685.78 at one point in early morning Asia trading on Tuesday.The world’s largest cryptocurrency with a current market capitalization of US$586 billion has attracted bouts of buying interest following several filings for spot Bitcoin exchange-traded fund (ETF) applications in June, including one by the world’s largest asset manager, BlackRock.On July 13, the U.S. Securities and Exchange Commission (SEC) formally accepted the Bitcoin ETF applications from BlackRock, WisdomTree, VanEck and others for review.