Only a handful of hours ago crypto markets were buoyed as the Securities and Exchange Commission signaled its intent its dismiss a lawsuit against Coinbase (COIN).
The welcome regulatory news sparked 5% gains for COIN and the likes of increasingly important crypto trading platform Robinhood (HOOD), and sent bitcoin (BTC) breaking out of its recent tight trading range to within sight of the $100,000 level.
The first bomb to break the good vibes came late in the U.S. morning when Bybit was stung by about a $1.5 billion hack — the largest such exploit ever in crypto. That news sent bitcoin and ether (ETH) sliding roughly 2% in a manner of minutes.
Prices quickly seemed to stabilize and — at least in the case for bitcoin — bounce a bit.
Et tu stocks?
Any sort of bounce, however, was quickly snuffed out as modest losses for U.S. stocks began to accelerate in afternoon trading.
Among the excuses for the quick retreat was a poor reading from the Michigan Consumer Sentiment Index, which
We współpracy z: https://www.coindesk.com/markets/2025/02/21/plunging-u-s-stocks-help-add-to-crypto-s-bad-day
