Crypto-Linked Stocks Slump Amid Concerns About Economy
Cryptocurrencies and crypto-linked stocks have reportedly slumped alongside the S&P 500 Index amid traders’ concerns about a global trade war and a possible recession.
Bitcoin has lost more than 10% of its value and Ether has lost more than 45% since the beginning of the quarter, Bloomberg reported Monday (March 31).
The report added that four crypto industry stocks — Coinbase, Riot Platforms, Core Scientific and Galaxy Digital — have dropped below where they were on the day of the election of President Donald Trump.
Before their recent fall, both the cryptocurrencies and the crypto-linked stocks surged in value at the beginning of the year amid optimism about Trump’s election, the report said. The price of…
