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Bitcoin (BTC) $ 98,863.49 0.86%
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Ethereum (ETH) $ 3,418.12 3.81%
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Tether (USDT) $ 1.00 0.12%
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Solana (SOL) $ 259.29 1.61%
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XRP (XRP) $ 1.55 10.67%
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Dogecoin (DOGE) $ 0.471778 19.21%
cardano
Cardano (ADA) $ 1.09 22.43%
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Lido Staked Ether (STETH) $ 3,416.14 3.69%

Bitcoin and Ether in Biggest Slump Since Sept. 3 as Stock Markets Sink

Bitcoin prices, Sept. 21, 2020.

Prices for both bitcoin and ether fell sharply in the past 24 hours, after a drop in global equities.

  • The top cryptocurrency by market value was traded around $10,401.18 at press time, losing 4.64% over the previous 24 hours, while ether lost 8.15% over the same time period to about $341.01.
  • The market correction in the top two cryptocurrencies came after the U.S. stock market fell to a two-month low amid new fears on the coronavirus pandemic.
  • The German DAX and the U.K.’s FTSE indexes were also down by around 4% on the day. The Hang Seng Index began the week with a 2% decline.
  • “Throughout 2020, we have consistently seen a strong correlation between crypto markets and traditional financial markets, and the crypto market’s response to the 2.2% drop in Dow Jones futures this morning has reaffirmed this correlation,” according to a note from Glassnode Monday.
  • The crypto data site warned investors to keep an eye on the stock market for further impact.
  • Meanwhile, Deribit, the world’s largest exchange for bitcoin options, was suffering from “partially degraded service,” as the exchange recorded high latency on the website as of press time.
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ETH prices
Source: CoinDesk
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