ALTS drop 20% as US Stock dey fall, Crypto Stocks dey fall
For September 2, growth-sensitive plus crypto stocks dem drop as US stock indices fall. Dow fall 0.9%, S&P 500 slide 1.2%, and Nasdaq lose 1.7%. ALTS crash near 20% after $1.5 billion private placement and August board appointment. Other crypto stocks also see losses: BMNR down 1.7%, SBET 2.6%, COIN 2.3%, CRCL 3.9%, MSTR 0.1%, BTCS 4.7%, and ETHZ 0.8%. These movements show high volatility for crypto stocks. Traders go dey watch am alongside macroeconomic data and regulatory developments.
Bearish
Di sharp fall wey happen for ALTS and other crypto stocks during di US stock market sell-off dey show say both equity and crypto markets get bearish feeling. Like before wen growth-sensitive assets no dey perform well during equity correction, dis drop go likely make traders sell short-term as dem dey find safer places. For long-term, market fit stabilize if macroeconomic signs improve and regulation clear, but for now, high volatility and risk aversion dey show say di outlook na mainly bearish.