U.Today – Investors and players in the US financial market have been reminded of the volatility that has come to define the space. In a post on X, Ran Neuner, CNBC Crypto trader and analyst, made a key announcement to asset holders. The analyst hinted at a possible recurrence of the stock market crash triggered by the cryptocurrency market.
Stock Market Crisis and Cryptocurrency Correlation
Neuner reminded the entire financial community of the massive loss that $1.05 trillion suffered when $1.05 trillion was recently wiped out of the US stock market. Interestingly, even technology stocks on the Nasdaq suffered due to the market volatility.
As such, Neuner predicted that another crash could be on the horizon. It seemed fitting, therefore, to assess investor preparedness and enlighten the community on what to expect. “Are you prepared for a crypto crash?” Neuner asked.
Some notable stock market losses recently include Nvidia (NASDAQ:), Tesla (NASDAQ:), MicroStrategy, Microsoft (NASDAQ:), Google (NASDAQ:), and Amazon (NASDAQ:). Nvidia, a global leader in artificial intelligence, suffered a loss of 9.22%, while Tesla, which is built on electric cars and neat energy, saw a loss of 1.56%.
Some US-listed entities with crypto ties were not immune to the crash. For example, MicroStrategy, a business intelligence firm led by Michael Saylor, saw a loss of 3.95% as a result of the US stock market crash.
Impact on (BTC), (ADA) and
Given the cryptocurrency sector’s links with the financial market, some digital assets have seen negative sentiment.
Bitcoin, the world’s largest crypto asset, saw its market capitalization fall 4.57% to $1.12 trillion. At the time of writing, BTC changed hands for $56,573.29, down 4.53% in the past 24 hours.
A similar situation occurs for Cardano (ADA) and XRP, whose market capitalization fell by 4.04% and 3.77% to $11,415,589,469 and $30,921,812,619, respectively.
The market performance over the past seven days shows that ADA has been in a bearish phase since August 29. As for XRP, it has been in a bearish mood and falling price for the past seven days, according to CoinMarketCap data.
