Crypto Price Check: Bitcoin Moves in Downward Step With Stock Market


Cryptocurrency prices were sliding Monday, moving in the same direction as the major stock indexes.

Bitcoin was down 6.4% to $40,416 at last check, according to CoinGecko, while ethereum was dropped 8.2% to $3,024 and dogecoin sank 9.5% to $0.140789.

‘The Elephant in the Room’

Crypto’s fall matched the downward movement of the stock market, with the Dow Jones Industrial Average losing nearly 180 points.

The tech-heavy Nasdaq 100 has traded in synch with bitcoin recently and Arthur Hayes, co-founder of cryptocurrency exchange BitMex, noted in a recent blogpost that “if the NDX [Nasdaq 100] tanks, it will take crypto down with it.”



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