Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower
Marie Huillet's original article for cointelegraph.com reduced by 49%
Friday, May 17 - after a week of deep green and bullish price performance, crypto markets today are seeing a major correction, with bitcoin dropping below the $7,350 mark, as Coin360 data shows. Bitcoin has taken a steep price hit, dropping 8% on the day to trade at $7,346 to press time. Largest altcoin by market cap ether has seen a slightly milder drop, and is down 6.3% on the day to press time to trade at $240.
The dip follows an intra-week high of above $270 yesterday. XRP has taken a double digit percentage tumble, dropping 10.9% on the day to trade at $0.38 by press time. Red market action spans an 11.2% loss for tron, a 10.6% loss for dash and a 12.3% loss for bitcoin SV.
Tezos has seen the mildest price hit, losing just 1.15% on the day to trade at $1.66 to press time. In traditional markets, United States stock index futures opened lower this morning, as a mark of ongoing trade tensions between the US and China, as CNBC reports. As of 3:00 a.m.
ET, Dow futures reportedly fell 62 points, CNBC notes, with futures on the S&P 500 Index and Nasdaq also slightly down.
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