Crypto sell-off deepens as weak economic data dampens risk-taking


Representation of the bitcoin cryptocurrency and a price chart are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - 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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

PDRM calls for greater parental vigilance as grooming by online predators leads victims to share more CSAM content
New app helps you sit up straight while at your computer
Dispose of CDs, DVDs while protecting your data and the environment
'Just the Browser' strips AI and other features from your browser
How do I reduce my child's screen time?
Anthropic buys Super Bowl ads to slap OpenAI for selling ads in ChatGPT
Chatbot Chucky: Parents told to keep kids away from talking AI dolls
South Korean crypto firm accidentally sends $44 billion in bitcoins to users
Opinion: Chinese AI videos used to look fake. Now they look like money
Anthropic mocks ChatGPT ads in Super Bowl spot, vows Claude will stay ad-free

Others Also Read