Bitcoin prices on Friday were slumping, on track for the steepest slide in three weeks, with the decline in the world’s No. 1 crypto coming in tandem with a retreat in the stock market.
Crypto assets aren’t meant to be correlated to traditional asset, but increasingly a stumble in risk has coincided with shifts in sentiment around digital assets.
At last check, bitcoin prices BTCUSD,
Declines for both Ether and bitcoin would be about the worst daily slumps since late May.
The global crypto market was down 6%, according to CoinMarketCap.com.
The declines in digital assets come as the Dow Jones Industrial Average DJIA,