Crypto Sentiment Hits ‘Extreme Fear’ Amid $2.7 Trillion S&P 500 Wipeout
A sell-off in the U.S. stock market sent shockwaves through risk assets on Thursday, cratering investor sentiment and pulling Bitcoin down to its lowest level in seven months.
After an initial uptick, the S&P 500 index dropped nearly 4% on Thursday. Nvidia’s stellar earnings report-driven rally also took a U-turn, dropping more than 8%.
The sell-off was a common theme across the index’s breadth, leading to a market-cap wipeout of more than $2.7 trillion, according to Bloomberg reporting. By comparison, crypto’s market cap stands at just above $3 trillion, after shedding 7% on Thursday.
As a result, sentiment across the board tanked, dropping into the “extreme fear” territory for U.S. equities and crypto, even as…
