Black Monday: Crypto, stocks take massive hit — Here’s what happened

In over 180 episodes, this is by far the most unusual. In today’s episode, we break down the wreckage from the weekend as a new week kicks off with the worst Monday for financial markets since the global stock crash of 1987, known as Black Monday. As a result, crypto has plunged, wiping out over $500 billion from its market cap in just the past 24 hours. Hundreds of millions of dollars in leveraged longs have also been liquidated, and Bitcoin briefly dipped as low as $49,000. And yet, while the markets are scrambling both in and out of crypto, the Bitcoin whales are doing whale things.

Further reading:

• Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs ‘rekt’
• Bitcoin dominance hits 58% amid altcoin, stock market bloodbath
• Bitcoin dips below $50K: Crypto market crashes 17%
• Was Warren Buffett right? 5 Things to know in Bitcoin this week
• Crypto hackers buy Ethereum dip using stolen funds
• Bitcoin price loses $60K, but a maturing Wyckoff signal gives hope

Rise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn.

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