Massive protests have erupted across China and spreading like wildfire amid the country’s strict COVID-19 restrictions. The events at Foxconn’s iPhone factory last week have triggered further reactions across the country.
On Monday, November 28, the global markets have come under pressure with investor anxiety rising. The effect is prominent in the crypto space as well with the broader crypto market falling 3% in the last 24 hours.
The world’s largest crypto Bitcoin is down by nearly 3% trading at $16,180 levels. On the other hand, altcoins like Ethereum (ETH), BNB, XRP, Polygon (MATIC), etc. are all down by 4-8%.
The recent unrest in China might exploit the vulnerability in the crypto markets that have been already spooked by the collapse of the crypto exchange FTX this month. Over the last month, Bitcoin and the broader crypto space are already down by 20%.
today’s drop in the crypto market has followed the correction in Asian equities and U.S. equity futures. Speaking to Blo
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