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Shocking 22% Plunge: Crypto Markets Reel from Global Financial Turmoil

Statistics reveal a sharp decline in cryptocurrency values amidst global financial unrest. Bitcoin (BTC) dropped 10% within 24 hours, falling below $75,000. Ether (ETH) experienced a more severe 22% plunge. XRP and SOL each saw declines exceeding 20%, while DOGE decreased by over 15%. Amidst this turmoil, Bitcoin’s dominance surged to 63%, a peak not seen since early 2021. The broader market, as measured by the CoinDesk 20 index, lost nearly 12% in the same period. Concurrently, traditional markets also suffered, with Hong Kong stocks plummeting 14%, the worst since the 1997 Asian Financial Crisis. Taiwan and Japan saw 10% drops, while major European indices like the FTSE 100, DAX, and CAC 40 fell over 5%. In the U.S., the S&P 500 entered bear market territory, down 20% from its peak and 5% in pre-market trading. Amidst these declines, U.S. bonds provided a refuge, with the 10-year note up 8% year-to-date and the iShares 20+ Year Treasury Bond ETF (TLT) rising 6%.

Source: www.coindesk.com

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