CoinDesk·4 min read·hard
Profit-taking, MidEast hostilities drag crypto lower after bullish week
O
Oliver Knight
✦AI Summary
Cryptocurrency markets experienced a downturn alongside global equities due to profit-taking and escalating hostilities between Iran and the U.S. over the Strait of Hormuz. Major assets and altcoins saw significant price drops as investors shifted away from riskier holdings.
That's a decline of about 1%. Steeper losses hit the altcoin market. Lighter (LIT) led the downside cascade, sliding 8% in its first major selloff since rallying by more than 200% over the past two months.
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