Home Markets Crypto Assets Slide, Financial Markets Brace for Volatility

Crypto Assets Slide, Financial Markets Brace for Volatility


Key Takeaways

  • Crypto markets fell today, with several Layer 1 coins registering double-digit losses.
  • Weakness in financial markets appears to have spread to crypto assets.
  • Bearish catalysts outside of the crypto space may be responsible for the current drawdown.

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The crypto market experienced a drawdown Monday, with several Layer 1 chains registering double-digit losses. Bearish sentiment in traditional markets is likely affecting crypto prices.

Crypto Market Drops

It’s been a bloody start to the week for both crypto assets and wider financial markets.

Bitcoin fell from its weekend high of $48,817 down to below $45,000, shaving off around 6.6% in the last 24 hours. Ethereum has fared slightly worse, dropping 8.6% in the same period. Traditional markets also appear poised for downward movement, with several indexes such as the S&P 500 and the FTSE 100 opening red.

In the crypto sphere, Layer 1 blockchains, which have…

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