What’s causing the crypto sell-off, who is losing, and will it last?
Global stocks rose on Thursday after strong Nvidia results eased concerns of a market crash, linked to the perceived overvaluation of AI firms.
Bitcoin, the world’s most established cryptocurrency, also enjoyed a modest lift — rising 0.73% by early afternoon in Europe.
This comes after a hard few months for the token. On Monday it briefly slipped below the $90,000 mark for the first time in seven months before rising to around $91,800 on Thursday.
A turning point in crypto’s trajectory can be traced back to 10 October, when a meltdown wiped out more than $1 trillion in market value across all tokens. More than $19 billion of leveraged crypto positions were offloaded, notably after US President Donald Trump threatened…
