Home Markets BTC and ETH Dip as Covid Variant Fears Affect Financial Markets

BTC and ETH Dip as Covid Variant Fears Affect Financial Markets

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A new coronavirus variant was recently discovered, and the news has sent shocks through the global financial markets. As a result, stocks and commodities have been negatively affected over the past few hours.

The negative performance also spread into the cryptocurrency market, with Bitcoin and Ether both suffering huge losses in the last 24 hours.

BTC and ETH Down by More Than 5%

The prices of Bitcoin, the leading cryptocurrency, and Ether, the second-largest coin by market cap, have dipped by more than 5% over the past 24 hours. The dip comes following the broader cryptocurrency market’s poor performance over the last two weeks.

Bitcoin reached a new all-time high at $69k earlier this year. However, it is now down by more than 20% from that price. BTC is currently down by more than 7% and is trading below the $55k level for the first time since October.

Ether is also suffering huge losses after losing more than 8% of its value over the past few…

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