Crypto markets are used to volatility but, even by their standards, this week was a rollercoaster.
The prices of bitcoin, ether and solana suffered their sharpest falls since the market’s crisis in the summer of 2022. Unlike two years ago, this wasn’t a mess of the industry’s own making, but instead part of the wider market maelstrom as fears over tech earnings and a potential US recession, plus an unwind of leveraged trades, drove huge moves in global equities, debt and currencies.
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