Crypto stocks plunge as investors shift to risk-off mode amid rising inflation, faltering tech stocks
Bitcoin fell nearly 3 percent as Ethereum dropped over 5 percent, reflecting broader market volatility
Crypto stocks tumbled sharply on Wednesday as investors moved decisively into risk-off mode amid mounting inflation fears, disappointing tech sector performance, and uncertainty about the Federal Reserve’s upcoming policy decisions.
The cryptocurrency market experienced significant volatility, extending a sell-off that began in recent weeks following Bitcoin’s brief rally to new all-time highs in mid-August. Bitcoin itself declined by nearly 3 percent, trading around $113,000, down from an intraday peak of over $124,000 earlier in the month. Ethereum also fell more steeply, slipping more than 5 percent to about $4,100. These drops…
