In the past 24 hours, Bitcoin [BTC] and Ethereum [ETH] have shed 1.87% and 5.27%, respectively. Following weakness in stock markets, particularly tech and AI, as well as a broader risk-off market sentiment, crypto has been negatively affected in recent weeks.

Crypto rocked by traditional Futures market volatility

More than $1 billion in leveraged positions across crypto have been wiped out in the past 24 hours due to a sharp sell-off in the stock market.

The S&P 500 Futures showed $300 billion in market cap wiped out a minute after the market opened, and just six minutes later, the losses were reversed.

Bitcoin slipped below the psychological $75k level as a result of the selling. It continued its bearish momentum, as did Ethereum,…