With fears over the US banking system causing global equities to fall, the crypto market has also been hit.
Chris Beauchamp, Chief Market Analyst at IG, has shared his thoughts, saying:
“Crypto prices are once again demonstrating their propensity to volatility. The sudden outbreak of fears about the US banking system caught equities on the hop, but the selling has taken crypto down hard, completely reversing any gains made this week.
“We haven’t witnessed a sustained, broad-based selloff like this in markets for months, but while fears about a full-blown banking crisis are likely overdone, it looks like the selling will continue for some time yet.”
