Bitcoin hit lows in late January in Asian trade but held support. Not this time, it fell quickly, dropping from $22,500 to $21,950 in a matter of minutes. That didn't bode well for cryptocurrencies and ethereum, which lagged behind, down 5 percent to bitcoin's 4 percent. It also doesn’t bode well for the broad range of risky deals that have tracked and tended to lead bitcoin for much of the past year.
The Nasdaq fell 0.6% today as Google continued to take a beating amid signs it was falling a step behind in the AI race.
Especially for cryptocurrencies, the SEC is cracking down on brokers, which will make life difficult in this space. Coinbase said today: “We have heard rumors that the SEC wants to de-stake retail customers’ cryptocurrency deposits in the United States.”
