The crypto market is reeling from an overnight selloff, with bitcoin trading lower at $69,400 having lost 2.6% since midnight UTC and ether (ETH) heading back toward $2,000 after tumbling by 4.1%.
The declines come alongside a sharp drop in U.S. equities and precious metals. Nasdaq 100 futures are down by around 1% while gold has lost 1.8%.
Oil, meanwhile, spiked back above $100 per barrel as supposed peace talks between the U.S. and Iran stalled.
The altcoin market was the worst hit, with the CoinDesk Computing Select Index (CPUS) and the CoinDesk DeFi Select Index (DFX) tumbling by 4.3% and 3.9%, respectively, during the Asia session.
Zooming out, bitcoin and the broader crypto market are still locked in a price range that…
