On Feb. 3, Bitcoin’s plunge to 91,163 USD resulted in major declines in Asian cryptocurrency stocks, leading the market downturn. Metaplanet saw a drop of 9.44% on the Tokyo Stock Exchange.
The downturn is closely linked to growing investor fears over trade wars initiated by the US, which are believed to amplify sell-offs in both cryptocurrencies and conventional stocks.
While major Asian indexes like Nikkei 225 fell by 2.66%, crypto stocks faced even deeper losses, indicating a broader market impact from the trade tension.
Leave a Reply