Updated: August 5, 2024, 2:26 PM EDT
Cryptocurrency markets saw a massive downturn on Monday, with the industry’s market cap experiencing its biggest drop since January 2022.
Top 2 cryptocurrencies by market cap Also, the price has plummeted over the last 24 hours. Bitcoin Bitcoin
-7.54%
More broadly, experts have called on the Federal Reserve to cut interest rates to avoid a potential recession.
On The Block’s podcast The Crypto Beat, we welcome Zaheer Ebtikar, Founder and CIO of Split Capital, and Founder and CIO of Fisher8 Capital. HedgedHog, FalconX Research Director David Rowant, and GSR Co-CEO and Co-Founder Rich Rosenblum discuss the market crash.
Watch on Twitch, X live, and YouTube.
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About the Author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.