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Crypto Market Down $200B as Wall Street Futures Tumble on Renewed COVID-19 Concerns

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CryptoPotato

Fri, Nov 26, 2021

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Aliens TLDR

The new COVID-19 variant coming from South Africa has brought more pain to all financial markets.

As the futures contracts of the world’s most prominent stock indexes have slumped, the cryptocurrency space experienced a massive correction.

Bitcoin dumped to a six-week low, while some altcoins saw double-digit price drops.

Bitcoin dumped by $5,000 in a few hours to an intraday low of $54,300, which became the lowest price point since October 13th.

Prompted by fears of a new COVID-19 variant coming from some African nations, the futures contracts of Dow Jones, the S&P 500, Nasdaq, and other popular indexes plummeted .

The Dow’s futures are down by more than 2%, those for the S&P 500 by nearly 1.7%, while oil prices dropped even harder.

The crypto market cap is down by nearly $200 billion in a day to below $2.5 trillion on CoinMarketCap. Use this link to register and receive $100 free and 10% off fees on Binance Futures first month ( terms ).

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