$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus By Cointelegraph


$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus

The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007’s subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike.

Crypto market capitalization weekly chart. Source: TradingView

A massive move lower from $69,000 in November 2021 to around $24,300 in May 2022 in ‘s (BTC) price has caused a selloff frenzy across the crypto market.

daily price chart. Source: TradingView