Bitcoin was hovering near $21,100 Thursday in afternoon trading. Investors have priced in Genesis’ looming bankruptcy filing and the crypto industry’s other recent travails, one analyst said.
The largest cryptocurrency and stocks are almost trading in tandem again – as risky asset markets move in response to fresh developments in the economy and international affairs.
Archegos levered a small basket of equities to the moon before it imploded - and took big stocks down with it. Similarly overlooked risks in crypto could leave traders holding the bag.