Cryptocurrencies
Bitcoin, Ether Tumble in the Biggest Decline Since FTX Collapse
- Risk aversion in global markets drags down crypto prices
- Bitcoin already posted biggest weekly fall since FTX crisis
This article is for subscribers only.
Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked Ether with the steepest fall since the collapse of FTX in 2022.
Top token Bitcoin traded 9% lower at $53,883 as of 4:51 p.m. in New York, adding to a 13.1% drop last week that was the worst since the period when the FTX exchange imploded. Ether shed over a fifth of its value before paring some of the slide to change hands at $2,419. Most major coins nursed losses.