WS #16960
Bitcoin has fallen to its lowest level since mid-September, dropping 5.68% as risk-off sentiment permeates all asset classes. The Binance hack, reported as the biggest crypto heist in history, adds a layer of operational risk to the narrative, further dampening sentiment. This move correlates with the broader tech selloff, suggesting crypto is being treated as a high-beta tech asset rather than a safe haven.
Crypto and Digital Asset Volatility
Bitcoin has fallen to its lowest level since mid-September, dropping 5.68% as risk-off sentiment permeates all asset classes. The Binance hack, reported as the biggest crypto heist in history, adds a layer of operational risk to the narrative, further dampening sentiment. This move correlates with the broader tech selloff, suggesting crypto is being treated as a high-beta tech asset rather than a safe haven.