Crypto Market Drops 6% Amid US Regional Bank Stress
TLDR
- Bitcoin dropped over $5,000 in hours as banking fears spread and shutdown lingers.
- Ethereum and XRP lost 6% each as the crypto market capitalization fell 6%.
- Investors shifted to gold as crypto declined, fearing a wider banking crisis.
- Prolonged US government shutdown fuels market uncertainty and banking stress.
The cryptocurrency market faced a sharp downturn, with a 6% drop in total market capitalization. Bitcoin lost over $5,000 in a few hours, falling from nearly $109,000 to $103,500, while major altcoins followed suit. This decline came amid rising concerns about the health of US regional banks and a prolonged government shutdown. As investors sought traditional safe-haven assets like gold, fears of a potential…
