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CRYPTO SELL-OFF DEEPENS AS WEAK ECONOMIC DATA DAMPENS RISK-TAKING

  • NEWS Desk Global
  • Aug 5, 2024
  • 1 min read



U.S.-listed shares of crypto-linked companies slumped as bitcoin fell more than 15% on Monday, after weak economic data last week triggered fears of a recession and set off a frenzied selling of risky assets.

The plunge marks a stunning reversal for the sector that until recently was riding a wave of optimism sparked by the approval of exchange-traded funds (ETFs) tied to the spot prices of bitcoin and ether , the two biggest cryptocurrencies.

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