Bitcoin’s value fell below $30,000 for the second week in a row on Wednesday, as new data revealed that inflation has not fallen to 40 year-highs.

BitcoinCoin Metrics reports that the price of $29,196.10 dropped by 7% EtherThe price dropped 8% to $2160.46

After the Bureau of Labor Statistics published consumer prices for April, cryptocurrencies fell with stock futures jumped 8.3%, which was slightly higher than expectedDow Jones polled economists.

Investors were scared and decided to leave crypto-related risk assets. Cryptocurrencies remain highly correlated with the S&P 500 and, more recently, the Nasdaq Composite. Both stock indices were lower Wednesday.

This week, bitcoin fell into the $29,000 area for the second consecutive time. Analysts believe $30,000 is the critical level that will determine the market value of bitcoin. However, it’s possible for it to fall much further.

Bitcoin was last week at this time touched a recent high of $40,000But the trend was quickly reversed and it has continued to fall steadily since.