Japan’s stock exchange is in free fall to begin the week. This has fueled a selloff of global assets.
A global market correction has been triggered by the Bank of Japan tightening monetary policies, a bleak outlook for the US economy and increasing tensions in Middle East. Bitcoin and crypto markets are in freefall.
BTC, which had reached $70,000 a few days ago, has fallen to $54,350 as of the time of publication. According to Coinglass, crypto traders have collectively witnessed a staggering $768.85 in liquidations over the past 12 hours.
Dow Jones Industrial Average Futures have also fallen 383 points or about 1 %. S&P-500 futures, as well as Nasdaq 100 futures have fallen by 1.17% and 2.212% respectively.
The disappointing US employment report increased the expectation that interest rates will be lowered by the Federal Reserve this year. JPMorgan Chase has reportedly predicted a drop of 50 basis points in September.
Mary Daly, the San Francisco Fed president will be giving public remarks at an business conference in Hawaii on Monday.
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The post 768,850,000 Bitcoins and Cryptos Liquidated within 12 Hours as Global Asset Drop Intensifies can be updated with the latest information.
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