Bitcoin experienced a 2% decrease and dropped to $30,221 on Monday, signaling a decline in the cryptocurrency markets. Edul Patel, the CEO at Mudrex, highlighted the key challenge for Bitcoin, which is to sustain its position above the crucial $30,000 level. The market cap of Bitcoin is currently approximately $586bn, and the global cryptocurrency market cap decreased by 2% in the past 24 hours, amounting to around $1.18tn. Additionally, other popular cryptocurrencies such as Litecoin, Cardano, and Polygon also experienced declines, with each declining over 3%.